Working Paper 70: the creative industries in London

This paper provides evidence of the value of the creative industries in London, and the impact that it has on London’s economy (using the DCMS definition of creative industries).

• Output: In 2012, GVA of the creative industries in London was estimated at £34.6 billion, accounting for just under half (47.6 per cent) of the UK total (72.7 billion), and contributed 10.7 per cent of total GVA in London. In the three years to 2012, the creative industries showed relatively higher growth than London’s economy as a whole.
• Employment: in 2014, 16.3 per cent of jobs in the capital were in the creative industries (795,800 jobs); this compares to 7.4 per cent of the total number of jobs in the Rest of the country (or 1.96 million jobs). Median hourly pay in the creative industries in London was 18.8 per cent higher than in the other sectors of the economy put together in 2014.
• Productivity: GVA per workforce job (as a proxy of productivity of the sector) was equal to £71,100 in 2012. This compares to an equivalent figure in the country as a whole of £49,800. Also, GVA per workforce job in the creative industries was 25 per cent higher than the average across all sectors of the London economy (at £56,700).

The paper also looks at the spatial distribution of both employees and workplaces of the creative industries across London, providing evidence of clustering of the industries around certain areas of London.