UK’s creative industries valued at £76.9bn

The government has updated its statistics on the creative industries, which are now worth a record £76.9billion a year to the UK economy.

That equates to £8.8million an hour, or £146,000 every single minute, said the Department for Culture, Media and Sport, which compiled the update.

The 46-page document (PDF) adds that employment within the industries, made up of PR, advertising, design, publishing, music, TV and Film, stands at 1.71m, or about 6% of total UK jobs.

That number of jobs relates to 2013 and represents a 1.4% increase on the number in the previous year, the update says. However, in April 2013 the department inserted a host of IT and technical jobs into the ‘creative industries.’

Yet even before the reclassification, specifically between 2011 and 2012, the value of service exports from the creative industries surged by 11.3% (compared with 3% for total UK service exports), to stand at £17.3bn by 2012.

Culture Secretary Sajid Javid indicated though that it’s far from just one-way traffic. He said: “The tax reliefs we’ve got in place and are extending to Children’s TV and orchestras have been instrumental in attracting inward investment”.

 

23rd January 2015

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