Latest figures show Creative Boom in Wales boosting the economy

Latest statistics from 2023 on sectors supported by Creative Wales show an annual turnover of £1.5 billion has been generated in 2023 alone, an increase of over 10% on the previous year.

Other highlights in the statistical report show:

• Over 3500 businesses now operate in the creative industries in Wales, a 12% increase since 2018
• Over 35,000 people are now employed within Creative Wales priority sectors, in addition to a significant freelance workforce
• Annual turnover has increased for TV and Film, Gaming, Digital and Music sectors

The creative industries are widely recognised as one of Wales’ major success stories following over a decade of investment by the Welsh Government since they were identified as having significant growth potential for Wales.

Creative Wales was established by Welsh Government in 2020 and it has supported priority creative sectors to sustain momentum and grow during a particularly volatile period for both the economy and the sector due to industry and global challenges, including the pandemic.

Several Creative Wales-supported productions have enjoyed notable success recently such as: hit Netflix series Sex Education; HBO’s Game of Thrones prequel House of the Dragon; BBC’s and Lost Boys & Fairies; Bafta-winning feature film Chuck Chuck Baby; the remote broadcasting of the 2024 Paralympic Games from the Cymru Broadcast Centre in Cardiff; and this year’s Welsh Music Prize winner, Lemfreck. Wales Interactive, the Welsh based games company behind smash hit gothic horror game Sker Ritual, has also received support from Creative Wales.

Economic boost

Since it was established, Creative Wales-supported productions have contributed to an expected £313m of conditional spend into the Welsh economy (on everything from employment and skills development to filming sets and business growth) from £26.5m of investment in production funding alone.

Cabinet Secretary for the Economy, Rebecca Evans, said:

“We should be shouting from the rooftops about the strength and success of our creative industries in Wales. These figures demonstrate what we already suspected – that the film and TV, music, games, digital, animation and publishing sectors are now important employers here with turnover and jobs growing at a rate well above the Welsh average.

“In addition to providing funding support, Creative Wales has a track record of supporting home-grown talent and attracting international creative projects. Over the past year we’ve taken Welsh companies to major conferences, festivals and trade fairs in the US and Europe, with more planned for the future.

“I was delighted that a recent FSB report included feedback from the sector around the positive impact that Creative Wales is having. Creative businesses can be assured that, through Creative Wales, we will continue to work closely with them to help ensure the sector has a vibrant, sustainable and healthy future.”

The figures show there are now 3,595 businesses operating in the creative industries in Wales, an increase of 11.8% on 2018 figures (compared to an increase of 3.5% in the number of businesses across the Welsh economy). The priority sectors supported by Creative Wales provide jobs for 35,100 in Wales (plus additional freelancers) – an increase of 8% on the previous year which is, again, above the Welsh average.

The Welsh TV and film industry alone delivered a turnover of £460m to Wales during 2023. Successful productions such as House of the Dragon, Men Up and Lost Boys & Fairies have showcased Welsh locations again this year and helped to further build Wales’ global reputation as a first-class place to make excellent TV and film.

This year Creative Wales also supported the new Cymru Broadcasting Centre which will deliver a raft of sporting and other productions from Cardiff over the next three years with a real focus on building up the skills base. The first broadcast from the centre in August saw thousands of hours of remote footage from the 2024 Paralympics in Paris being streamed from Cardiff back out to Channel 4 viewers across a range of channels.

Latest figures indicate that Wales’ digital and music Sectors are also performing well. Digital generated a turnover of £303m in 2023, and music generated £262m, with figures suggesting the turnovers of both sectors are up significantly on the previously year.

Skills boost

Beyond their economic impact, productions supported by Creative Wales also contribute to the development of an increasingly skilled, diverse Welsh creative workforce. Skills Minister, Jack Sargeant, said:

“Creative Wales investments are always targeted towards strengthening the industry for the long term – through apprenticeships and upskilling placements for example. This investment in skills development is key to sustaining and growing an industry with such potential for us as a nation.

“I was delighted to announce the 17 recipients of the second Creative Skills Fund last month after the first round benefitted over 27,000 people with almost 500 training courses and 435 upskilling placements provided. Initiatives like this will help ensure we continue to create exciting and rewarding opportunities within this booming sector for future generations.”