UK creative industries worth nearly £10m/hour
January 26, 2016
By Colin Mann
The UK’s creative industries are now worth a record £84.1 billion (€110bn) to the UK economy, figures released by the Government reveal.
British films, music, video games, crafts and publishing are taking a lead role in driving the UK’s economic recovery, according to the latest Government statistics.
The figures show the sector growing at almost twice the rate of the wider UK economy – generating £9.6 million per hour, with the success set to last, with a strong line-up of British talent and creativity in 2016 promising yet another blockbuster year ahead.
Minister for Culture Ed Vaizey described the creative industries as one of the UK’s greatest success stories, with British musicians, artists, fashion brands and films immediately recognisable in nations across the globe. “Growing at almost twice the rate of the wider economy and worth a staggering £84 billion a year, our Creative Industries are well and truly thriving and we are determined to ensure its continued growth and success,” he added.
The Government says it continues to create the right environment for creative industries to thrive, through tax reliefs, inward investment, and safeguarding music and cultural education programmes.
According to the Culture, Media and Sport Department, 2016 is shaping up to be another great year right across the UK’s most dynamic sector; whether it be the next instalment of Poldark; the new album from Radiohead; the film adaptation of Roald Dahl’s The BFG; or the release of Lego Marvel’s Avengers.