Creative industries bring £92 billion to UK economy

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The Department for Digital, Culture, Media and Sport (DCMS) has revealed that the creative industries – with the games industry to the fore – contribute nearly £92 billion to the UK economy each year. 

A new report compiled by the DCMS, which uses figures from 2016 (so, if anything, is likely to provide a conservative picture) also suggested that the Gross Value Added (GVA) across the creative industries sector as a whole rose by 7.6 per cent in 2016 to £91.8 billion, growing twice as quickly as the rest of the UK economy, according to GamesIndustry.biz.

UK Business Secretary Greg Clark said: “The creative industries are a fantastic British success story creating millions of jobs and business opportunities across the country. The sector currently contributes £92 billion a year to our economy and through our modern Industrial Strategy we are investing further to enable the sector to keep on growing and bringing the benefits to all corners of the United Kingdom.”

Of that £91.8 billion creative industries’ contribution to the economy, £34.7 billion was attributed to the IT, software and computer services sector, in which the government has placed the videogames industry. That sector was by far the biggest contributor to the UK economy, with the film, TV, video, radio and photography sector providing the next biggest contribution with £15.36 billion.

As we recently reported, a BFI report estimated that the games industry alone contributes £2.87 billion to the UK economy each year. 

But the games industry is also worried about the possible detrimental effects of the looming Brexit. And Hasan Bakhshi, director of the Creative Industries Policy and Evidence Centre, obliquely acknowledged that, saying: “The UK’s creative industries have had a stellar growth performance in recent years, but to navigate the economic uncertainties ahead they will need rigorous evidence.”

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Steve Boxer
Steve Boxer has been writing about videogames since the early 1990s. His first console was an Atari VCS, and he misspent most of his youth in the 1980s in the arcades. As well as for Green Man Gaming, he can be found writing for The Guardian, Empire, TechRadar and Pocket-Lint. He’s currently having trouble deciding whether his favourite console is his Xbox One X or his Switch, and plays a wide range of games, but especially RPGs (he loves a good JRPG) action-adventure titles, shooters of all descriptions and driving games. Follow him here.