UK's Creative Industries Worth £76.9b To Economy 2014 DCMS Figures Reveal
Brand new figures published by the Department for Culture, Media & Sport have revealed that the UK's Creative Industries are now worth £76.9 billlion per year to the UK economy. This is a growth of almost ten per cent on 2013 and three times that of wider UK economy. The figures accounted for 1.7 million jobs in 2013, 5.6 per cent of UK jobs.
The areas covered include: Visual arts, the film, television and music industries and theatre. This massive contribution is an all-time high and equates to £8.8m per hour, or £146,000 every single minute, playing a key role in the Government’s long-term economic plan. Gross Value Added (GVA) for 2012-13 increased by 9.9 per cent - more than three times that of the UK economy as a whole, and higher than any other industry. The value of services exported by the Creative Industries was £17.3bn in 2012, 8.8 per cent of total UK service exports. Between 2011 and 2012 the value of service exports from the Creative Industries increased by 11.3 per cent. This compares with an increase of 2.8 per cent for total UK service exports.
Sajid Javid, Secretary of State for Culture, Media and Sport, said: The UK’s Creative Industries are recognised as world leaders around the globe and today’s figures show that they continue to grow from strength to strength. They are one of our most powerful tools in driving growth, outperforming all other sectors of industry and their contribution to the UK economy is evident to all.
Government is determined to continue its support for this most dynamic of sectors as part of our long-term economic plan. The tax reliefs we’ve got in place and are extending to Children’s TV and orchestras have been instrumental in attracting inward investment, and are part of broad package of measures designed to ensure the continued success of the Creative Industries.
2015 is set to be another bumper year for UK creative output!
Photo: P C Robinson © Artlyst 2015