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      UK Maritime Reveals Major £116bn Economic Impact

      The Centre for Economics and Business Research (CEBR) has published a new report, commissioned by Maritime UK, highlighting the major impact the industry makes on Britain’s economy.

      In 2019, maritime contributed £116bn in total turnover to the UK economy, 35% higher than 2010. For every £1 of turnover generated directly by the sector, a further £1.09 was generated indirectly across the supply chain, underscoring the far-reaching impact of an industry that carries 95% of Britain’s global trade.

      The sector’s direct turnover stood at £55bn in 2019, which outstrips the economic contribution of rail and aviation combined, and puts the industry ahead of road transport. And in 2019, UK maritime supported £48.9billion in GVA, an increase of 39% on 2010.

      According to the CEBR, the sector’s ambitious investment pipeline and a quick recovery in global transport patterns, will lead to growth exceeding pre-pandemic levels by the end of 2022. Between 2021-2025, the CEBR predicts UK maritime will grow by 16%.

      Sarah Kenny OBE, Maritime UK chair, said:

      “As an island nation, maritime surrounds all of us, and its impact is felt in every community across the UK.

      “We saw that during the pandemic, through the provision of vital supplies, and we are seeing it now as we bounce back. With maritime driving the net zero agenda and providing skilled jobs in all corners of the country.”

      The CEBR’s report also outlines UK maritime’s employment impact, supporting 1,064,000 jobs in 2019. This represents an 18% increase on 2010, outpacing the rise in UK employment of 13% over the same period. These are highly productive jobs, adding 45% more value than the UK average, and well paid, with average remuneration 30% higher than the UK benchmark.

      Most of these jobs are found in coastal areas, where employment opportunities are having an impact on communities. According to a poll by Survation in September 2021, commissioned by Maritime UK, of 1,000 young people (18-24) in coastal areas, 49% plan on moving away.

      Jobs were cited as the overwhelming reason with 70% saying they would be more likely to stay if the right career opportunities were made available. Maritime UK believes growing the sector can help turn the tide for coastal communities.

      Anne-Marie Trevelyan MP, Secretary of State for International Trade, said:

      “Shipbuilding is a vital part of the UK’s industrial identity, and the maritime sector does a fantastic job in helping to grow our economy and supporting high-quality jobs across the country.”

      Robert Courts MP, Maritime Minister, said: 

      “Maritime is vital to the UK's economy and to levelling up the country as a whole. Its role was made even clearer during the pandemic and this report serves to underline that contribution. 

      “I am incredibly proud of our industry and through our joint vision for the future, Clean Maritime Plan and Maritime 2050, we will work together to continue building a sector which benefits all."

      UK Maritime is also found to be a valuable contributor to the Exchequer, having directly generated £5.2 billion in tax revenues for the UK in 2019, 36% higher than the £3.8 billion in 2010.

      The CEBR’s economic analysis looks at all the major industries within maritime. This includes shipping, ports, marine leisure, which comprises leisure boating and watersports; marine engineering and science, and maritime business services, such as legal, finance and shipbroking.

      Among these, shipping generated the highest turnover in 2019 at more than £49bn. Marine engineering and science, increasingly specialising in green technology, had the second highest impact at more than £34bn, followed by maritime business services (£13.7bn), ports (£10bn) and leisure marine (£8bn).

      Maritime UK has also announced the return of Maritime UK Week, a week-long national programme of events and activity to engage the public with the world of maritime.

      Running from 10-16 October 2022 Maritime UK runs in the off-year from London International Shipping Week, with a greater domestic and educational focus. Major themes will be how the sector can play its part in levelling up all parts of the country, build its competitiveness and get to net zero.

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      21 Oct
      21 Oct 2025 – 24 Oct 2025

      KORMARINE 2025

      KORMARINE is the largest and most prestigious marine trade exhibition, fully supported by the world’s biggest Shipbuilders in Korea as well as leading international shipowners and offshore...
      04 Nov
      4 Nov 2025 – 6 Nov 2025

      Indo Pacific 2025

      Attracting industry professionals from around Australia, the region and the world, Indo Pacific 2025 will see key players from the maritime and naval defence communities come together for three days...
      07 Nov
      7 Nov 2025 – 10 Nov 2025

      Europort 2025

      Europort, organised in the world port city of Rotterdam, is the international maritime meeting place for innovative technology and complex shipbuilding. With an average of 25,000 professional...
      27 Nov
      27 Nov 2025, 19:00 – 23:00

      SMI Annual Dinner 2025

      The Society of Maritime Industries is delighted to invite you to one of the most prestigious occasions in the UK maritime calendar – the SMI Annual Dinner. Held in the historic grandeur...
      02 Dec
      2 Dec 2025 – 5 Dec 2025

      Marintec China 2025

      Launched for over 40 years, Marintec China has become renowned as one of the most authoritative B2B platform for the International Maritime Industry. The 2023 edition of this biennial event...
      25 Mar
      25 Mar 2026 – 27 Mar 2026

      Asia Pacific Maritime (APM) 2026

      APM (Asia Pacific Maritime) is the premier exhibition and conference in Asia showcasing a complete overview of the vessel sectors services and solutions, technology, vessel equipment, supplies, and...
      31 Mar
      31 Mar 2026 – 1 Apr 2026

      Ocean Connect Asia 2026

      Ocean Connect Asia presents a regional meeting point to bring together the converging worlds of autonomy, robotics and uncrewed based solutions for the ocean and coastal economies. As the...
      01 Jun
      1 Jun 2026 – 5 Jun 2026

      POSIDONIA 2026

      Posidonia brings the whole shipping world to its exhibitors. The international shipping community attends in strength with national pavilions and thousands of visitors.
      09 Jun
      9 Jun 2026, 08:30 – 11 Jun 2026, 17:00

      Seawork 2026

      Seawork 9th to 11th June 2026
      01 Sep
      1 Sep 2026 – 4 Sep 2026

      SMM 2026 (Shipbuilding, Machinery and Marine Technology trade fair)

      When it comes to meeting up with all the leading protagonists of the global maritime industry, there’s no place like SMM, one of the leading international maritime trade fairs. 
      16 Mar
      16 Mar 2027, 09:00 – 18 Mar 2027, 17:00

      Sea Asia 2027

      SMI will once again organise the UK Group Pavilion at Sea Asia in its role as the official Country Pavilion organiser. The event will return, bigger and bolder on 16-18th March 2027. To register...
      07 Jun
      7 Jun 2027, 09:00 – 11 Jun 2027, 10:00

      NorShipping 2027

      SMI will once again organise the UK Group Pavilion at Nor-Shipping. The event will return, bigger and bolder in 2027. 
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