Economic Impact | 21 Jul 2021
The UK Creative Industries: unleashing the power and potential of creativity
The study shows that, in addition to the 2.1m jobs that existed in the Creative Industries prior to the pandemic, a further 1.4m roles were supported by the sector through its supply chains.
In 2019, the Creative Industries directly created 2.1 million jobs, based in areas right across the UK, and directly contributed £115.9 billion to UK GDP. The creative industries made an even greater contribution when also accounting for their procurement expenditures.
When including these, we estimate that the total economic footprint of the industries in 2019 supported 3.5 million jobs and £178.0 billion in GVA. The results therefore indicate that for every 10 jobs that the creative industries directly support, a further seven are supported elsewhere in the economy as a result of supply chain multiplier effects. Similarly, for every £1 that the industries contribute to the UK directly, a further £0.5 is supported through supply chain effects.
The effects of the pandemic will affect the production of creative and cultural goods and services in the years to come. The Creative Industries are estimated to have lost £12 billion in GVA as a result of the Covid-19 pandemic, dropping from £115.9 billion in 2019 to £104.1 billion in 2020 – well below the £122 billion in GVA the sector was projected to generate by the end of 2020, had the pandemic not materialised.
Our economic consulting team are world leaders in quantitative economic analysis, working with clients around the globe and across sectors to build models, forecast markets and evaluate interventions using state-of-the art techniques.
To find out more about our capabilities, contact:
EMEA
Sam Moore
+44 (0)207 803 1415
Email
Americas
Hamilton Galloway
+1 (646) 503 3068
Email
Asia
Rhianne Clark
+65 6850 0112
Email
Related Services
Post
Unlocking Economic Growth in Regional Australia Through Digital Delivery
Oxford Economics Australia delivered an independent economic impact assessment for Uber Eats, quantifying additional revenue for restaurants, GDP contribution, and consumer wellbeing benefits across 67 new regional markets.
Find Out More
Post
The impact on developing economies of WTO dissolution
This report revisits the analysis presented in our April 2024 paper on the potential impact of WTO dissolution, drilling down to quantify national-level impacts for a sample of ten developing economies.
Find Out More
Post
Demonstrating Babcock’s Value to Australia’s Economy and National Resilience
Oxford Economics Australia provided Babcock with a comprehensive, independent analysis quantifying its total GDP, employment, tax, and socio-economic contributions across Defence and Civil sectors, SME engagement, and state-specific impact modelling.
Find Out More