An independent report by Oxford Economics documents the important contribution of the UK film industry to the country’s global economy. According to « The Economic Impact of the UK Film Industry » the latter contributes 4.3 billion £ to the national GDP. Compared to 2004 (3.1 billion £) this means an increase of 39%.

 

33.500 people are directly employed in the sector, 95.000 in total. In film production in particular jobs have grown up to 70% since 1996. 43 films were produced annually in the 1980s, since 2000 the country produces 120 films a year. The merchandising chain linked to the film industry has supported another 6.500 jobs and contributed 235 million £ to GDP in 2006.

 

Capital investment is estimated at 120 million £ in 2006. The report underlines the positive effect of the government’s new film tax relief, which is expected to attract 11% of the global film productions to UK until 2010.

 

Total exports of the film industry amounted to 967 million £ in 2005. Even tourism benefits from the booming industry: About one in ten foreign tourists have been motivated by a scene in a British movie. The estimated contribution to GDP is worth 900 million £.

 

According to Ivan Dunleavy, chief executive of Pinewood Shepperton, “The Oxford Economics report demonstrates clear and irrefutable evidence of the tangible benefits that UK film and the creative industries as a whole bring to the economy”.

 

Source: 4RFV, July 24^th 2007