Diageo Contributes €13bn Annually To Europe’s Economy, Study Finds
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
Related news
(HU) Európából látja el Kanadát a Lindt, hogy elkerülje a vámokat
Swiss chocolate maker Lindt & Sprüngli will supply chocolate to…
Read more >BAILEYS DROPS A CREAMY, NON-DAIRY LIQUEUR MADE WITH OAT MILK
Coffee and oat milk lovers, rejoice! Meet the newest way…
Read more >Health and sustainability is the engine of this year’s F&B innovations
A sort of duality emerges from the predictions of food…
Read more >Related news
OKSZ: margin is not profit!
The international food retailer member companies of the National Trade…
Read more >Viktor Orbán on Kossuth Radio: traders cannot add more than 10 percent to the purchase price
Traders cannot add more than 10 percent to the purchase…
Read more >GKI Analysis: Why are food prices constantly rising?
In recent times, the rise in the prices of basic…
Read more >