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14/01/2014

UK Creative Industries Worth £71.4bn A Year

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The UK’s creative industries are now worth £71.4bn per year to the UK economy, according to stats released today by the government.
Britain's creativity, as seen through its film, television and music industries, is now worth just over £8m pounds an hour, according to the figures.
The report found that the Gross Added Value (GVA) of the UK's creative industries has increased by 15.6% since 2008, compared with an increase of 5.4% for the UK Economy as a whole.
GVA of the creative industries increased by 9.4% between 2011 and 2012, higher than for any of the other main UK industry sectors.
Creative industries accounted for 1.68 million jobs in 2012, amounting to 5.6% of the total number of jobs in the UK.
Employment in the creative industries increased by 8.6% between 2011 and 2012.
Between 2009 and 2011 the value of service exports from the creative industries increased by 16.1%.
Secretary of State for Culture, Media and Sport Maria Miller commented: "These incredible statistics are confirmation that the Creative Industries consistently punch well above their weight, outperforming all the other main industry sectors, and are a powerhouse within the UK economy.
"We are committed to ensuring that the energy, innovation, skills and talent existing in this dynamic sector continues to translate into economic success, and provide a remarkable platform from which, we can showcase Britain to the world."
Creative Industries Council Chair Nicola Mendelsohn commented: "These figures amply demonstrate the huge contribution our sector makes to the economy and it’s vital that the right framework is in place to nurture and support the industry. We are working with Government on developing a growth strategy for the sector which will identify how all involved can ensure the creative industries continue to go from strength to strength."
(IT/MH)
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