The impact of the lockdown, the UK’s withdrawal from the European Union, the rise of e-commerce, and the development of new international trade opportunities. 

These four considerations will inform the work the UK advertising industry undertakes, with Government and industry bodies, to ensure the UK maintains its position as a creative capital and hub for advertising and marketing.

The UK Advertising Exports Report 2022 revealed that international trade in UK advertising and market research services was worth £11.7bn in 2020. Despite the phenomenal economic and emotional challenges of the Coronavirus crisis, the industry sustained the same levels of exports as the pre-pandemic conditions of 2019.

The figures are taken from an analysis by the advertising industry think tank, Credos and data from the Office for National Statistics (ONS). 

The US remains the largest recipient of UK exports, receiving £1.2 billion worth of advertising and market research services, followed by Spain (£895m), then Germany (£877m). 

The UK’s strong performance was boosted by the work of the UK Advertising Export Group (UKAEG) in partnership with the Department for International Trade (DIT). In 2021 the group generated £21m worth of new business for members. UK Advertising Export Group members have created landmark campaigns for global audiences, such as adam&eveDDB’s groundbreaking #WeThe15 campaign for the International Paralympic Committee.

Once again, the UK is second in the world for advertising services exports ($13.6bn) with the US leading at nearly $22bn – with a significant gap between its nearest place competitor – Germany coming in third at $11.8bn, according to OECD data. 

Stephen Woodford, Chief Executive, Advertising Association, said: “Despite the global disruption to trade caused by the pandemic the UK advertising industry managed to maintain exports in 2020 at £11.7bn, a similar level to 2019. However, as the global economy recovers in 2021 and 2022, there are headwinds to overcome, from the effects of the pandemic on supply chains to high levels of inflation. This year’s UK Advertising Exports Report sets out a clarion call for our industry and Government to redouble the work together to achieve higher levels of exports, with all the benefits for jobs, growth and international cooperation these bring.” 

Janet Hull, Chair of UKAEG, Member Creative Industries Council, and IPA Director of Marketing Strategy said: “The advertising industry is part of a £116 bn creative industries sector, and we are proud to drive its success on the world stage. Now more than ever we need to tell the story of UK advertising’s benefits to global partners and search out new channel and market opportunities in a review of our export strategy to best prepare us for the next decade of growth.”

This sentiment was echoed by Julian Douglas, International Chief Executive and Vice-Chairman of VCCP, IPA President and UKAEG member. He urged companies looking to grow their international revenues to get involved in the Export Group and participate in UK House going forward.