Official statistics released on 30 November 2017 reveal that the UK Creative Industries added £91.8 billion to the country's economy in 2016, around £10.5m per hour. The contribution of the sector rose by 7.6 per cent, twice the average growth across the economy by Gross Added Value, and now make up 5.3% of the UK economy.
In six years, the Creative Industries subsectors have increased their economic contribution by 44.8 per cent. The highest growth areas included:
- crafts (14.6%)
- design and fashion (11%)
- creative tech including games (11.4%)
- publishing (7.7%)
- film and TV (6.6%)
The highest contribution areas included:
- IT, software and computer services, including video games and creative-technical businesses (£34.7bn)
- film, TV, video, radio and photography (£15.4bn)
- publishing (£11.6bn)
- music, performing and visual arts (£8.2bn)
As well as traditional creative fields, most of which increased, the overlap of technology and creative industries ('createch') continues to play a big part in the sectors strength. New fields like virtual and augmented reality (VR, AR), artifical intelligence (AI) and immersive tech are expected to further boost this growth in the coming years.
Secretary of State for Digital, Culture, Media and Sport, Karen Bradley said: "Britain’s creative industries play an essential role shaping how we are seen around the world but as these new statistics show they are also a vital part of the economy."
"The sector is now one of our fastest growing industries and continues to outperform the wider UK economy. This is a testament to the talent and drive of its workforce and we are working closely with them to make sure this fantastic success continues."
The UK Government proposes to invest £500m in technologies like AI as well as internet infrastructure as part of the budget while the Industrial Strategy reiterates commitment to immersive technology investment with £33m from the Industrial Strategy Challenge Fund. Around 90% of MPs believe the UK Creative Industries are important to the economy, employment and the positive perception of Britain.
Download the figures below.