Following today's announcement of the Creative Industries Sector Deal by the Government, the Advertising Association has issued the following statement.
Stephen Woodford, Chief Executive, Advertising Association, commented:
“Today’s announcement of a Sector Deal for the Creative Industries is great news for advertising. We are proud our industry is being recognised as a national success story and a key driver of economic growth. Every pound spent on advertising returns six pounds to GDP – that’s more than £120bn a year in total, supporting 1 million jobs. Growth in advertising exports is larger than that of the wider economy. Annual UK exports of advertising services are worth £5.8 billion according to the latest figures, giving us the largest trade surplus in ad services in Europe.
“We are ready to do more to boost the UK economy by growing both the uptake of British advertising services at home as well as overseas. Today we have launched Promote UK, in support of the Government’s Industrial Strategy, a new industry group to position the UK as the global centre of excellence for advertising. We are also about to launch pilot hubs in the West Midlands and Scotland to look at the ways SMEs can use advertising to grow their businesses.
“We look forward to working with Government in support of the Creative Industries Sector Deal to ensure the UK builds its position as a global powerhouse for advertising and the wider creative sector.”