The economic impact of UK film
A study by Oxford Economics in 2012 explores the economic impact of the UK film industry
- UK film contributes over £4.6 billion to UK GDP and supported over 117,000 jobs (up from 100,000 in 2009).
- Report shows that despite the on-going recession the UK film industry is thriving
- With a significant upward trajectory over the last 20 years, the overall picture for the UK film industry is of continued long-term growth, which is made possible by robust support from Government.
- The UK film industry directly employs almost 44,000 people (up from 36,000 in 2009)
- Films depicting the UK are responsible for generating around a 10th of overseas tourism revenues, estimating that around £2.1 billion of visitor spend a year is attributable to UK film
- The opening of major tourist attractions such as the Warner Bros. Making of Harry Potter Tour demonstrates the value of film to the economy.
- UK is a major draw for big budget, international productions, especially from the US, such as The Dark Knight Rises, Fast and the Furious 6, Kick Ass 2, Prometheus, Snow White and the Huntsman.
- Last year inward investment films spent over £1bn in the UK, accounting for 80% of total UK production spend in 2011
- The UK is home to a wealth of award-winning and highly skilled technicians as well as world-class acting, screenwriting and directing talent
- The UK is a gateway to Europe for international film-makers.
- In 2011 total UK box office admissions were at £171.6m, hitting over £1bn for first time
- Films such as The King’s Speech and Tinker Tailor Soldier Spy saw British independent film take a 13.5% market share: highest ever recorded market share of UK box office for British inde films
- Approx 75% of the UK industry is based in London, with an average of 35 crews shooting on the streets of London every day
- London is the 3rd busiest production industry in the world
Oxford Economics: The Economic Impact of the UK Film Industry published in September 2012 is available here