Industry – UK
Country Focus: UK
Film industry contribution to UK economy increases to £4.6 billion
- Oxford Economics report shows that industry shines despite recession
The British film industry contributes more than £4.6 billion to the gross domestic product and some £1.3 billion to the exchequer, according to a new Oxford Economics report. ‘The Economic Impact of the UK Film Industry in 2011’ report, commissioned by the British Film Institute (BFI) and Pinewood Shepperton, with support from the British Film Commission and Creative England, shows that growth outstrips the UK economy as a whole, defying the recession. The UK film industry directly employs almost 44,000 people (up from 36,000 in 2009) and supports 117,000 direct and indirect jobs overall (up from 100,000 in 2009).
Creative Industries Minister Ed Vaizey said, “This report clearly highlights the huge contribution that the UK film industry makes to long-term economic growth. The UK’s successes at the BAFTA and Academy Awards celebrate the wonderful creative talents and accomplishments of UK film, but this report reminds us of the crucial role the industry plays in job creation, tourism, inward investment and the promotion of all that is great about Britain.”
Amanda Nevill, CEO, BFI said, “Film GB has really gone for gold, achieving creative excellence and significant positive economic impact. It’s a story of great British talent and sustained investment really paying off.”
Ivan Dunleavy, Chief Executive, Pinewood Shepperton said, “The trends show that we’re performing well, relative to today's economic climate. We can do more though. We now need to look at how to enable further investment in infrastructure and how to build on the UK’s growing international reputation to boost exports.”
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