The goods and services provided by the UK’s creative industries will be worth in excess of £100bn by 2018, according to research by Falmouth University and the Centre for Economics and Business Research (Cebr).
The creative industries are also expected to be responsible for employing 1.39 million people in the same timeframe – representing 4% of total UK employment.
Computer programming and consulting has dominated growth in the sector, with 38% of all jobs in the creative industry in 2013 falling into this category, according to the research.
The strength of these activities is expected to continue to 2018, resulting in rapid job creation in response to robust demand growth. Similar developments are anticipated within advertising, media and market research activities, as they benefit from the economic recovery and rising confidence among businesses that are willing to invest and pursue growth through creative means.
Commenting on the findings, Professor Anne Carlisle, vice-chancellor and chief executive at Falmouth University, said: “The UK creative industries are well established and admired on a global stage. With market-leading talent blazing the trail for the creative industries in the UK, now is an exciting time to be in the sector.
“Our gaming and motion picture industry, in particular, is world class – with Grand Theft Auto V and Downton Abbey being well-known examples – and the UK economy must continue to capitalise on this lead.”
Exports of goods and services from the creative industries are expected to grow strongly, with Cebr predicting the sector to produce £34.5bn in exports by 2018. This reflects rising international consumer demand for recreational and artistic output, such as films, television, gaming and music, as well as increased international success for the creative elements of the business services sector and robust demand from abroad for ICT and computer consultancy activities.