Diageo Contributes €13bn Annually To Europe’s Economy, Study Finds

By: Trademagazin editor Date: 2024. 02. 12. 09:40

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Drinks giant Diageo contributes over €13 billion to Europe’s economy every year, creating jobs for over 200,000 people, a new report from Oxford Economics showed.

The maker of Johnnie Walker, Smirnoff, Baileys and Guinness provides one of the highest value-adds per job relative to the company’s size or scale compared with other parts of the total beverage alcohol sector, according to the report.

The sector offers huge growth potential with the EU27+’s (31 countries across continental Europe and the British Isles) spirits trade with the Rest of the World accelerating by 54% between 2012-2022.

Although only one in five alcoholic beverages consumed in the EU+ are spirits, the category contributed €2 in every €5 in export growth from the region, with Diageo playing a key part.

The report, Diageo’s Economic Impact in Europe, found that Diageo added €13.2 billion in gross value to the economy.

For every €1 Diageo received in net sales, it supported a contribution of €3.60 to the GDP of Europe, the report noted.

ESM