NEWS: Creative industries worth £100bn to UK economy by 2018
The gross value added (GVA) of the creative industry will be worth more than £100 billion to the UK economy by 2018, research by Falmouth University and the Centre for Economics and Business Research has revealed.
The creative industries are also expected to employ 1.39 million people in this period, this represents four per cent of total UK employment.
The study showed that computer programming and consulting has dominated growth in the sector, with 38 per cent of all jobs in the creative industry in 2013 falling into this area. Employment in this category is expected to rise, with similar developments anticipated within advertising, media and market research activities.
Meanwhile, exports of goods and services are expected to reach £34.5 billion by 2018.
Professor Anne Carlisle, vice-chancellor and chief executive at Falmouth University, commented on the findings: “The UK creative industries are well established and admired on a global stage. With market leading talent blazing the trail for the creative industries in the UK, now is an exciting time to be in the sector. Our gaming and motion picture industry in particular is world class – with Grand Theft Auto V and Downtown Abbey being well known examples - and the UK economy must continue to capitalise on this lead.”