Creative sector grew twice as fast as wider economy in 2015-16
Britain’s creative industries are in the throws of a mini-boom according to the latest figures compiled by the Department for Digital, Culture, Media and Sport, which found that the sector expanded twice as fast as the economy as a whole through 2015-16.
Britain’s creative industries are in the throws of a mini-boom
The government calculates that the industry contributes £91.8bn to the UK in gross value added, a productivity metric that measures the contribution to an economy, after expanding by 7.6% over the year – far ahead of the 3.5% figure notched up by the economy as a whole.
This expansion now sees the creative sector account for 5.3% of the UK economy driven by stellar performances across the board - notably in the crafts industry which grew by 14.6%; design and fashion which enjoyed an 11% lift and creative tech businesses such as games which surged by 11.4%.
Publishing meanwhile grew by 7.7% while film and TV expanded by a healthy 6.6%. The advertising industry grew by 4.3% over the study period meaning it has doubled in size since 2010.
Welcoming the news John Kampfner, chief executive of the Creative Industries Federation, commented: “These are impressive figures and testament to the innovation and resilience of this sector and its contribution to the wider UK economy.
“But it should be noted that these figures are for the period before the EU referendum. These fantastic growth rates demonstrate all the more the importance of protecting our sector from threats such as Brexit and growing skills gaps. The Federation will continue to make the case for the measures we need to support continued growth.”
The findings come as the industry comes to terms with the impact Brexit may have on future growth.