UK ad exports to rise 54% in next five years

UK advertising’s £4.7 billion contribution to national exports will increase 54% over the next five years – growth of £2.5 billion – according to new forecasts from the Advertising Association.

The data is published today alongside a new report, ‘Advertising Pays 4: The export and global impact of UK advertising‘, by advertising think-tank Credos, which examines the sector’s role in narrowing the UK trade gap.

The UK’s balance of payments for ad-related services is currently the highest in Europe at £1.6 billion – second globally only to the US (£2.7 billion) and five times the French figure (£327 million).

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According to DCMS figures, most UK advertising services are exported to Europe (61%), followed by North America (27%) and Asia (11%).

“It’s time UK advertising was recognised as a massive export success,” said James Murphy, chairman of the Advertising Association and founder and CEO, adam&eveDDB.

“The new data is proof that world-beating talent, award-winning creativity, digital leadership and a gold-standard self-regulatory model have built UK advertising into an exporting powerhouse that will continue to deliver for the economy.”

According to the latest AA/Warc Expenditure Report, UK adspend will break the £20 billion mark for the first time this year.