UK’s Creative Industries is growing at almost twice the rate of the wider economy

UK, and escpecially London, is becoming a hub for the worlds creative industry. Norwegian companies taking part in this will definately have an advantage.

 The creative industries are growing faster than any other business sector in most of the UK according to new data from Nesta, with 47 “creative clusters” now scattered across the country.

While London is still responsible for most of the creative industry jobs, smaller cluster are thriving across the country.

The UK’s creative industries are worth over £71 billion annually and the sector employs 1.5 million people.

The creative sector covers a number of different areas including: Advertising. Architecture, art and antiques, crafts, design, designer fashion, film and video, gaming, music, the performing arts, publishing, software and computer services, television and radio

Landscape

  • There are 47 creative clusters in the UK, download NESTAS report on “The geography of creativity in the UK”
  • Creative clusters have a dominant presence in London and the South-East of England (which together comprise around a third of clusters identified). But just over one-fifth of clusters are found in the North of England, and Scotland, Wales and Northern Ireland all feature too
  • Rapid growth has been experienced in all sub-sectors that make up the creative industries, but particularly in services activities like Design, Software and digital, and Advertising. More than half of metropolitan areas observed faster growth in the number of businesses, levels of employment and volume of turnover in these sub-sectors than in other sectors.

Opportunities for Norwegian companies, despite Brexit impact

The UK as a global hub and gateway to Europe has great expertise, talent, competition and a landscape favoring this industry, with great opportunities for Norwegian companies and investors looking to work within this sector.

It is pitched to become the leading hub for the world’s creative industries within a generation, according to the UK business leaders’ organisation CBI, and locating here means you will have a competitive advantage and able to scale your business faster.

International interest in the UK creative sectors is also holding steady despite the uncertainty arising from the UK’s Brexit vote, according to the latest UK Creative Industries Tracker Survey.

Five reasons to choose the UK’s creative industries

  • Export minded – The UK has a long and successful history of trading with all parts of the world.
  • Originator and amplifier of global trends – The UK is seen by trend forecasters as a key market; if trends do not take root in the UK, they are unlikely to be considered truly global.
  • Open, attractive market for creative investment – Defined by its openness to outside ways of thinking and collaborations. There are also specific financial incentives to invest in the UK’s creative sector.
  • Educational excellence – The UK has seven out of the top 50 universities in the world and a network of admired art schools. The UK is also ranked second globally for industry-university collaboration.
  • Innovation nation – The UK is an innovation-driven economy where over 60% of its productivity growth came from innovation in recent years. From fashion to film, architecture to advertising, UK creatives have a well-earned reputation for challenging conventions and embracing the new with professionalism and flair.

 Innovation Norway assists companies looking to expand their businesses through our services. Get in touch with us if you would like to find out more about how we work, and if you need advice and assistance in exporting your business to the UK.

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