The Fragrance Foundation releases UK fragrance industry report
Date Posted: Tuesday 19th March 2019
The Fragrance Foundation has released a report on the £7 Billion UK fragrance industry. This is the first independent report to quantify the industry’s contribution to the UK economy. The report was commissioned by Oxford Economics and shows that in 2018 the UK fragrance industry is estimated to:
- Have supported a £7.1 billion gross value added contribution to UK GDP.
- Have supported 126,700 people in employment.
- Stimulated £2.1 billion in tax revenues for the UK Exchequer.
- Accounted for £7.5 billion in consumer spending.
Commenting on the publication, Linda Key Jackson, CEO of The Fragrance Foundation, said:
“The economic contribution of the UK fragrance industry in sectors including farming, manufacturing, wholesale, marketing, finance and retail is above the expectations of most people in the UK."
She went on to say that, “Achieving the industry’s potential in the UK requires the support of government, educators, career advisors and parents but together we can to raise awareness of the many and diverse careers in the fragrance industry which are open to young people in the UK today."
To read the full report visit either fragrancefoundation.org or oxfordeconomics.com.