ARCHITECTS’ REVENUE has increased by 13% this year, cumulatively doubling in the last seven years, according to the Royal Institute of British Architects (RIBA).
The figures were revealed in RIBA’s annual summary of business trends in the architecture and construction sectors. RIBA’s Business Benchmarking report, published since 2012, tracks UK architects’ turnover and salaries, and identifies global growth areas for the export of UK architecture expertise.
This year’s report shows the architectural profession contributing £3.6bn to the UK economy while the overall value of international (non-UK) work has increased since 2018 by 22% to £625m.
Three years after the UK’s referendum on leaving the EU, the value of revenue from work in the EU is now the highest it has ever been, growing by 73% since 2015. The EU is the most important source of international work for small and medium-sized architecture practices.
International architecture revenue
Outside of Europe, Asia is the most valuable source of work for Chartered Practices, accounting for 28% of work, and is the fastest growing source of international revenue, growing from £77 million to £177 million worth of work since 2015.
Work from projects in the Middle East has risen to £131 million, from £104 million last year.
Other findings show that three out of every four pounds earned from outside the UK goes to larger practices (100+ staff).
Since 2012, the number of RIBA Chartered Practices has increased from approximately 3,000 to 3,600 and revenue has more than doubled to £3.6bn (from £1.6bn).
RIBA CEO, Alan Vallance, said, “The 2019 RIBA Business Benchmarking report illustrates unabated demand for UK architects internationally. Significant increases in work in Asia, the Middle East and Europe clearly indicate the value of British expertise and the importance of further developing relationships in these growing markets.
“For practices relying solely on UK income, political uncertainty is a continuing worry. Whoever forms the next government must set out a comprehensive vision that enables the architecture profession to continue to thrive in the EU and beyond.”
Read more in the Executive Summary of the 2019 RIBA Business Benchmarking report.