NEWS: BUSINESS STEADY DESPITE BREXIT impact

 

International interest in UK creative sectors is holding steady despite the uncertainty arising from the UK’s Brexit vote, according to the latest UK Creative Industries Tracker Survey.

Q3 2016 survey highlights include:

  • 93 per cent of respondentsthought UK creative exports into overseas markets were unchanged, and 86 per cent also reported the same level of international business into UK creative sectors
  • 32 per cent believe sentiment towards UK creative industries will improve in the next three mon

The quarterly Tracker Survey questions trade advisers for UK Trade & Investment (UKTI) and the Foreign & Commonwealth Office and Morison KSi, the international association of professional services advisers and accountancy partners, about perceptions and activity involving the UK’s creative industries in markets worldwide.

During Q3 2016, the survey’s international respondents overwhelmingly (93 cent) reported no change in the level of exports by UK creative industries into their local markets, with 86 per cent also believing that trade into the UK creative industries from overseas markets was unchanged.

There was more movement in terms of sentiment towards the UK creative industries. Some 18 per cent of respondents thought sentiment towards the UK creative industries had improved in the previous three months. However, this figure was down from 54 per cent when the same question was asked in Q2, 2016.

For the next three months, 32 per cent of respondents expected sentiment to improve. This figure was slightly up on the Q2 level of 29 per cent.

The news that Foster + Partners, the architectural practice, will build one of the key stadia for the 2022 FIFA World Cup in Qatar, the popularity of the Netflix Royal drama about the Queen, ‘The Crown’, and the role played by Framestore, the UK special effects group, in a virtual reality project for Lockheed Martin which included a "Virtual Field Trip to Mars" for a group of schoolchildren were also cited as events which raised the international profile of the UK’s creative businesses and talent during this period.

Other respondents cited the launch of several UK fashion brands into the New Zealand market and a UK songwriters’ camp in Nashville as other positive developments for the UK’s international trading and creative relationships.

ENDS