Published on: 17 September 2012 in Industry
New report shows UK film’s contribution to GDP increases to over £4.6 billion
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The UK film industry’s contribution to GDP has increased to £4.6 billion, an independent report published today has shown.
The Economic Impact of the UK Film Industry in 2011 was published by Oxford Economics and commissioned by the BFI and Pinewood Shepperton plc. The report shows the industry to be in fine fettle, with growth outstripping the UK economy as a whole and continued long-term growth expected.
The number of jobs has also increased, with the UK film industry supporting 117,000 direct and indirect jobs, up from 100,000 in 2009.
“This report clearly highlights the huge contribution that the UK film industry makes to long-term economic growth,” Creative Industries Minister Ed Vaizey said.
“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. This comprehensive report shows, without a shadow of a doubt, that film is an industry driving growth in the UK’s economy. It’s a story of great British talent and sustained investment really paying off.”
The report also highlights the positive impact the film industry has on tourism, with movies depicting the UK responsible for generating about a tenth of overseas tourism revenues.