UK Creative Industries Worth £84.1bn to UK Economy

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The UK’s Creative Industries are worth a staggering £84.1billion to the UK economy according to the latest Creative Industries Economic Estimates revealed this morning by the DCMS. Head here to view the full report.

This news comes just days after ‘Creative England Live 2016: Catalyse’, our fourth anniversary event celebrating the power and potential of the UK’s creative sector. Held at Google HQ, this day-long event saw the release of the Creative England 50, a list of innovative companies and creatives who we feel are leading our creative industries to exciting new places.

Details of our ten Future Leaders were also revealed during the event, showcasing the companies chosen by our industry expert judges for breaking new ground in creativity.

Creative England chief executive, Caroline Norbury MBE, said:

“Today’s superb official figures once again testify to the creative sector’s role as a major engine for growth. You only have to look at last week’s Creative England 50 report to see that there are fantastic digital creative businesses in all parts of the country. But there can be no room for complacency. If we’re to build on the phenomenal success of the UK’s creative industries and maintain our competitiveness against other international markets, forging more connections between talent and opportunity is crucial.

“By providing initial first-in money, as well as access to the skills, markets and networks that they need to grow and prosper, our aim at Creative England is to help the burgeoning creative start-ups and SMEs of today blossom into the major transformational businesses of tomorrow.”

Minister for Culture Ed Vaizey said:

“The creative industries are one of the UK’s greatest success stories, with British musicians, artists, fashion brands and films immediately recognisable in nations across the globe. Growing at almost twice the rate of the wider economy and worth a staggering £84 billion a year, our Creative Industries are well and truly thriving and we are determined to ensure its continued growth and success.”

Key Findings:

  • GVA of the Creative Industries grew by 8.9% between 2013 and 2014. This compares to 4.6% for the whole of the UK.
  • Between 1997 and 2014, GVA of the Creative Industries increased by 6.0% each year compared to 4.3% for the UK economy.
  • The GVA of the Creative Industries was 3.9% of total UK GVA in 1997, but had increased to 5.2 per cent in 2014.

Employment and Exports

  • 1.8 million jobs in the Creative Industries – increase of 5.5% between 2013 and 2014
  • Total employment in the Creative Economy across the UK increased by 5.0% between 2013 and 2014 (now at 2.8 million jobs), compared with a 2.1% increase in the wider UK economy.
  • The value of services exported by the UK Creative Industries in 2013 was £17.9bn, a 3.5% increase compared with 2012.
  • Exports of services from the Creative Industries accounted for 8.7% of total exports of services for the UK in 2013.

Gross Value Added for UK Economy

  • The Creative Economy was worth £133.3bn in 2014, accounting for 8.2% of the UK economy.
  • The Creative Economy has grown by a quarter since 2011, at a rate faster than the whole of the UK economy, which grew 12.1 per cent. This rise has primarily been led by the growth of the Creative Industries.

Click here to find out more about the Digital Sector Economic Estimates for January 2016.

Follow Creative England on Twitter for the latest updates, funding opportunities and development programmes.

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