The Welsh Government has announced that, thanks to support from a government agency, the nation’s creative industry is delivering significant economic benefits.
Being backed by Creative Wales, the industry has helped to put £208.7 million into the Welsh economy over the three years since it was founded. This has been done by investing £18.1 million into supporting 37 different projects.
Dawn Bowden, Deputy Minister for Arts, Sports, and Tourism, said:
“Our support for the creative industries is a no-brainer when production funding for screen alone demonstrates in excess of an 11:1 return on investment for the Welsh economy… We have so much to look forward to in 2024.
“Firstly, the second series of HBO’s award-winning House of the Dragon will roar back to the small screen after filming across eight locations in Ynys Mon and Gwynedd. We can also look forward to a new drama from Michael Sheen called The Way, and Lost Boys and Fairies which tells a couple’s journey to adoption.”
According to the latest figures, parts of the economy that are backed by Creative Wales employ approximately 32,500 people, in addition to a major freelance workforce. Figures also outline how 2022 saw the sector generating an annual turnover of £1.4 billion.
The main aim of Creative Wales’ investment is to support making Wales more attractive to international productions; however, screen isn’t the only industry that is benefitting from investment. Funding is also being committed across digital, publishing, games, music, and animation, with independent Welsh companies being supported to success across 2023.
A sustainable future for the film and television industries is being helped by Welsh Government funding, which will be delivered through Creative Wales as part of the Sustainable Studio Standard.
Image credit: iStock
