U.K. wine and spirit industry boosts economy with £76 billion contribution

Published Jun 10, 2024

Tridge summary

The Wine and Spirit Trade Association (WSTA) report, conducted by the Centre for Economics and Business Research (Cebr), reveals the substantial economic impact of the UK's wine and spirit industry. In 2022, the sector contributed over £76bn to the UK economy, a significant increase from £49bn five years earlier. The industry generated over £22bn in Gross Value Added (GVA) and supported 413,000 jobs. The WSTA is advocating for key requests from the incoming government, focusing on economic, environmental, and social sustainability.

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Original content

A recent report by the Wine and Spirit Trade Association (WSTA) has highlighted the substantial economic impact of the UK's wine and spirit industry, which contributed over £76bn to the economy in 2022. This marks a significant increase from the £49bn reported five years ago. Commissioned by the WSTA and produced by the Centre for Economics and Business Research (Cebr), the Economic Analysis Study highlights the sector’s vital role, generating over £22bn in Gross Value Added (GVA) last year. The UK remains a global leader in the wine and spirit market, being the second-largest importer of wines, with imports equivalent to 1.7bn bottles in 2022. It also retains its position as the top exporter of spirits, shipping out 1.8bn bottles in the same year. Cebr economists revealed that the industry supported 413,000 jobs in 2022, with 219,000 in the spirits sector and 193,000 in wine. “These figures, highlighted by the industry supporting more than 400,000 FTE jobs in 2022, show the ...

Source: Harpers