Earlier this year Maritime UK commissioned research to estimate the value of the UK maritime sector and the results were released during London International Shipping Week.
Carried out by the Centre for Economics and Business Research (CEBR), the study estimates the maritime and marine sectors provide 185,700 direct jobs nationwide and generate revenues of £40bn.
However, those direct jobs are just the starting point. Each job then feeds a number of indirect jobs and the CEBR reports this adds up to around 937,000 jobs, generating revenues of more than £90bn.
To put that into context, the comparable figures for the aerospace sector come in at one-third less than our sector.
In the North West the maritime and marine sectors provide 18,300 jobs directly, generating just over £3bn, and 76,100 jobs indirectly, generating revenues of more than £6.5bn.
Direct GVA contribution is more than £1.1bn and this figure rises to almost £2.9bn in terms of the indirect contribution.
Whereas the regional statistics are helpful and demonstrate how the industry is one of the major economic drivers in the North West, we have reason to believe that the figures for our region are considerably understated.
We shall be providing submissions to CEBR to help demonstrate that they have failed to identify large chunks of the maritime and marine sector within the region.
Indeed, a recent study that Mersey Maritime commissioned with key partners for the Liverpool City Region estimates more than 22,000 direct jobs alone
Whatever are the true figures, it is important that we get across the message to all key stakeholders that the regional Maritime and Marine Industry is an economic giant in the region and it is heavily investing for the future. All members are encouraged to assist in spreading the message.
And one final statistic, yes, I do confess to reaching the big 60 earlier this month.
Consultant at YBNews
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