Gambling sector added £7bn in GVA to UK economy in 2022
Latest data from DCMS and ONS reveal sector’s contribution as white paper anticipation heightens
UK gambling generated an estimated £7.05bn in gross value added (GVA) goods and services to the economy in 2022.
The figure comes from the latest data from the Department for Digital, Culture, Media and Sport (DCMS) relating to the government’s economic estimates for DCMS sectors.
The data is compiled by the Office for National Statistics (ONS), with economic estimates being based on the calculation of GVA, not accounting for inflation.
Of the five main pillars of the DCMS’ report, gambling returned the lowest amount of GVA for the UK economy.
The culture sector delivered £32bn while sports and civil society added £16bn each to the economy.
The largest sector, creative industries, returned the DCMS’ largest GVA contribution at £120bn.
Total GVA from DCMS sectors amounted to £161bn, which was 6% above February 2020 levels – the most recent month prior to Covid-19 measures being introduced in the UK.
By comparison, GVA for the whole UK economy was 0.5% lower than in February 2020.
The news of gambling’s contribution to the UK economy comes amid a Whitehall reshuffle which will see DCMS split into two new departments, with the digital aspect dropped from the government arm.
Lucy Frazer is to take on the role as Secretary of State for the new-look Culture, Media and Sport and former DCMS chief Michelle Donelan will head up the newly formed Department for Science, Innovation and Technology.
The white paper into the Gambling Act 2005 review will remain under Frazer’s department’s remit despite the DCMS undergoing mass changes.