Today, the World Spirits Alliance (WSA) unveiled a groundbreaking study conducted by Oxford Economics and the IWSR, highlighting the profound economic influence of the global spirits industry. The WSA Global Economic Impact Study presents, for the first time, the sector’s pivotal role in driving economic expansion, generating substantial tax revenues, and fostering millions of jobs worldwide.
In 2022 alone, the spirits industry made an astounding contribution of US$730 billion to global GDP, supporting 36 million jobs—equivalent to the entire workforce of the United Kingdom. Moreover, spirits generated US$390 billion in tax revenue, comparable to the tax intake of a top 20 global economy. Manufacturers also invested US$120 billion with their suppliers, with more than half directed towards supporting agriculture.
Philippe Schaus, CEO of Moёt Hennessy and President of the WSA, emphasized during the report launch:
“Our Global Economic Impact Study unequivocally demonstrates the indispensable role of the spirits industry in the world economy. From employment generation to tax contributions, and from fostering innovation to promoting sustainable practices, our industry plays a critical role.”
Highlighting a noteworthy trend, Schaus noted, “More than half of global spirits sales now occur at the premium level or higher, underscoring consumer embrace of the ‘drink less, but better’ ethos.”
Helen Medina, newly-appointed CEO of the WSA, added:
“At a time marked by escalating trade tensions, this report serves as a powerful testament to the global spirits sector’s success story. I am committed to navigating these opportunities and challenges alongside our members.”
Medina emphasized the study’s findings as she stated, “The figures underscore our substantial economic impact and reinforce the importance of ongoing collaboration to sustain stability and progress. Upholding responsible drinking habits, production standards, and marketing practices remains paramount in our efforts to ensure the long-term prosperity and positive influence of the spirits industry.”
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