subject: Womens Fashion - The 21 Billion Dollar Industry [print this page] The front page of many magazines and newspapers rarely show the great range of stunning commercial clothes in fashion today, and instead, tends to highlight many of the crazy fashions within the celebrity world. There is a very serious side to the fashion industry and this is what makes it such a lucrative industry. Store owners and designers take a great deal of pride in their work, as well as the investment of time and money, and fortunately there is new evidence to support the hard work they have done.
The evidence has been put forward by Oxford Economics, and has been commissioned by the BFC (British Fashion Council). The report is titled "Value of Fashion" and involves a detailed survey of the womens fashion industry of today. The report makes note of the impact that 21 billion dollars a year has on the UK economy, and also notes that when tourism and related businesses are taken into account, that figure rises to being worth 37 billion to the UK economy.
The fashion industry, being the second biggest employer in the UK, employs a staggering 816,000 people and this also makes it the 15th largest industry within the UK. The report was created through careful analysis of industry profits and employment from all sectors, including wholesale, fashion, accessories, manufacturing and retail. Also included due to the direct correlation with the fashion industry, were marketing, media and fashion education.
The comprehensive report will hopefully urge the Government to invest more into the fashion industry, once they see the true value of this industry and its place within the economy. Recommendations have also been put forward in the report, to secure a future for those that want to enter the industry and to receive the appropriate level of training.
