London is a key hub of aircraft interior design talent, contributing to a new official statistic that the UK’s creative industries are worth £71.4bn per year to the country’s economy – just over GB£8m an hour. The Creative Industries Economic Estimates are official statistics used to measure the direct economic contribution of the creative industries to the UK economy, providing an analysis of the contribution they make to UK employment, Gross Value Added (GVA) and exports of services.
Key findings include:
• GVA of the creative industries was £71.4bn in 2012 and accounted for 5.2% of the UK economy
• GVA of the 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
• The creative industries accounted for 1.68m jobs in 2012, 5.6% of the total number of jobs in the UK
• Employment in the creative industries increased by 8.6% between 2011 and 2012 a much higher rate than for the UK economy as a whole (0.7%)
• The value of services exported by the creative industries was £15.5bn in 2011, 8% of total UK service exports
• Between 2009 and 2011 the value of service exports from the creative industries increased by 16.1%. This compares with an increase of 11.5% for total UK service exports.
The UK’s 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 added, “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.”