Ungated Post | 18 Mar 2019
The Economic Impact of the Fragrance Industry
To celebrate National Fragrance week (18-24 March), this report provides the first comprehensive assessment of the contribution of the fragrance industry to the UK economy. It finds the fragrance industry has a large positive economic footprint in the UK. The industry must therefore be recognised as a valuable asset for the UK economy.
In total, we estimate the fragrance industry generated a total gross value added contribution to GDP worth £7.1 billion in 2018. From this activity it supported the employment of 126,700 people and was responsible for raising £2.1 billion in tax receipts.
This impact is centred around the wholesale and retail of fragrance products. However, there is also a notable manufacturing footprint, with additional impacts in sectors across the economy driven by the supply chain spending and consumer activity that the industry’s payment of wages creates.
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