The UK's toys and games industry saw notable variations in wages and salaries between 2013 and 2023. The year-on-year fluctuations were significant, with high growth years like 2014 (28.65%) and 2018 (32.11%), contrasted by declines such as in 2017 (-14.07%). Despite these fluctuations, the overall trend from 2013 to 2023 shows an average annual growth rate (CAGR) of 0.37%. In 2023, the value stood at 168.5 million Euros, reflecting steady but modest growth in recent years.
Looking ahead, forecasted data from 2024 to 2028 indicates continued growth, albeit at a slower rate, with a forecast 5-year CAGR of 1.08%. This suggests the industry will experience a cumulative growth rate of 5.5% over the next five years, reaching 180.3 million Euros by 2028.
Future trends to watch for include:
- Impact of economic fluctuations on disposable income and consumer spending on toys and games.
- Technological advancements in toy production potentially affecting labour costs.
- Influence of Brexit-related trade policies on the industry's wage structure.
- Shifts in consumer preferences towards digital and educational toys.
