Sunday, April 16, 2017

Creative Industries Are the New Bet for the UK

As the Brexit process is under its way, the UK has started planning on ways to boost its local economy through means not yet thoroughly explored. The industrial strategy being put together emphasizes the importance of the creative sector and its ability to not only expand the economy, but to also "support 2.9m jobs in the UK".
The Creative Industries Federation stated that areas such as "film-making, music, advertising, and video games are all big export earners" but are not given the proper attention by ministers. However, this view has changed overtime. Not limited to the fields previously mentioned (also including areas such as theater, architecture, fashion, museums, etc.), these have been taken into account more vividly after the government presented their industrial strategy Green Paper in January, exposing plans to boost the post-Brexit economy.
As more attention has been given to the industry, it was found that it is "the fastest growing sector of the UK economy" and that it is a crucial factor in delivering more jobs, trade and exports. In addition, it has been began being considered that this area of the economy will become "as important to future economic success as traditional industries, such as cars or oil and gas", given that it contributed £90bn to the economy in 2015, further expressing the magnitude and growing aspect of the sector.


Source:
http://www.bbc.com/news/business-39604320

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