MDJM Highlights Economic Significance of Creative Industries
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 09 2026
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Source: Newsfilter
- Creative Industry Contribution: According to the House of Lords statistics, the UK creative industries contributed over £124 billion to the economy in 2023, accounting for more than 5% of total economic output and supporting approximately 2.4 million jobs, highlighting the sector's critical role in national economic development.
- Enhanced Policy Support: The UK government offers a 39% expenditure credit under the Audio-Visual Expenditure Credit (AVEC) system for animated films and television productions, aimed at attracting global production and strengthening the domestic creative ecosystem, thereby enhancing the UK's competitiveness in international animation production.
- Scotland's Creative Economy: Scotland positions creative industries as a central pillar of its cultural and economic development, contributing billions annually to the national economy and supporting tens of thousands of creative jobs, reflecting local government’s commitment to enhancing creative infrastructure.
- European Policy Environment: The animation and audiovisual industries in Europe operate within a robust policy framework, with the Creative Europe program facilitating cross-border collaboration, thereby enhancing international ties in animation and audiovisual production and driving sector growth.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
