British creative industries could be worth \u00a3128.4 billion ($174.4 billion) to the U.K. economy by 2025, according to an independent review of the sector led by Sir Peter Bazalgette.<\/p>\n
The\u00a0review\u2014commissioned by the government and led by the current Chair of ITV\u2014highlights how the creative sector is continuing to outperform others in terms of employment, having already grown 300,000 jobs between 2011 and 2015. It could help to create up to 1 million new jobs by 2030.<\/p>\n
The review\u2019s findings show the industry played a key role in the U.K.\u2019s economic recovery. It contributed \u00a387.4 billion ($118.1 billion) in GVA (gross value added) in 2015, 5.3 percent of the U.K. economy. Between 2010 and 2015, it grew by 34 percent, faster than any other sector.<\/p>\n
It also outperformed other sectors in terms of employment growth. Between 2011 and 2015, employment in the sector increased by 19.5 percent (around 300,000 jobs) compared to 6.3 percent average across the wider U.K. The sector is also a net exporter of services\u2014\u00a311.1 billion ($15 billion) surplus in 2014.<\/p>\n
Bazalgette said: “In every scenario, the creative industries are set to be of central importance to the U.K.\u2019s future success. We have two great assets: the English language and our creativity, but the skills and business models of this sector are of increasing importance.<\/p>\n
“My report recommends simple ways of maximizing the potential of this crucial sector which I\u2019d like to see become part of the government\u2019s developing industrial strategy.<\/p>\n
“I urge the government to ensure the final strategy is based on a fundamental understanding of what these industries need to thrive.”<\/p>\n
Culture Secretary Karen Bradley said: “The U.K.\u2019s creative industries are an economic powerhouse and the government is committed to removing the barriers to its growth.<\/p>\n
“The key challenge now is turning these ideas into a strong partnership, which is credible and has buy-in from both government and industry.<\/p>\n
“I encourage the sector to do what it does best: think creatively and work with us on achieving a compelling and ambitious deal that allows the U.K. creative industries to continue to thrive.<\/p>\n
“Other asks include a strategy to attract and develop young talent to make the Creative Industries more accessible, including a careers program for secondary schools and expanding the U.K.\u2019s network of Saturday Clubs.<\/p>\n
“The review\u2019s recommendations will now be considered carefully by the Government as part of its\u00a0Industrial Strategy\u00a0and used to inform work towards a sector deal in the coming months. In response the Government has already announced the opening of the \u00a380 million Creative Industries Clusters Programme competition, led by the Arts and Humanities Research Council (AHRC).”<\/p>\n
Business Secretary Greg Clark said: “The U.K.\u2019s booming creative industries contribute nearly \u00a390 billion to the economy and employ more than 2 million people.<\/p>\n
“The review unveiled today demonstrates our world-class talent and expertise in these areas and reflects the industry\u2019s vision for how we build on these strengths, now and in the future. We are grateful to Sir Peter Bazalgette for his excellent work. We will be working with him in the coming months towards a sector deal that helps us grasp the opportunities ahead.<\/p>\n
“The \u00a380 million Creative Industries Clusters Programme being launched today will deliver a further boost to our creative industries, help spread prosperity and grow the creative skills base across the U.K.<\/p>\n
“This funding means that from today, eight areas of the country will be able to establish creative Research and Development (R&D) Partnerships between universities and businesses. The Programme, which is supported by \u00a339 million from the\u00a0Industrial Strategy Challenge Fund\u00a0and matched by industry, will help catalyze economic growth and provide the skills needed for the jobs of the future and respond to challenges identified by the creative industries in their cluster.<\/p>\n
“And a new Policy and Evidence Centre will help fill the gaps in our understanding of the creative industries\u2014from the full value of their economic contribution to how they compare internationally.”<\/p>\n","protected":false},"excerpt":{"rendered":"
British creative industries could be worth \u00a3128.4 billion ($174.4 billion) to the U.K. economy by 2025, according to an independent review of the sector led by Sir Peter Bazalgette.<\/p>\n","protected":false},"author":350,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[69],"tags":[],"class_list":["post-7939","post","type-post","status-publish","format-standard","","category-top-stories"],"yoast_head":"\n