PPAI’s Oxford Economics study: branded merchandise and $472.3bn of global GDP — what distributors can use

Published on 8 September 2026, the Branded Merchandise Global Market Report is described by PPAI as a first comprehensive look at the global economic ecosystem behind branded merchandise. Oxford Economics, the independent advisory firm that conducted it, reports that in 2025 the industry supported a $472.3 billion contribution to global GDP (PPAI’s release figure; Oxford Economics’ public summary rounds the same finding to $472 billion). The same published package states that $338.3 billion was spent on branded merchandise globally in 2025, that the sector supported 11.9 million jobs worldwide, and that it supported $141.3 billion in global tax revenues — framed by PPAI as roughly the same as the entire Swiss federal budget.

PPAI president and CEO Drew Holmgreen said: “Behind every branded item is a global network of businesses creating jobs, economic activity and value around the world.” Oxford Economics’ public page positions the work as commissioned by PPAI. That matters for how you use it: this is association-commissioned economic impact analysis, not a UK government or ONS series. Do not invent UK-specific GDP splits from these headlines. Country-level results are pointed to on Oxford Economics’ microsite materials; stick to what the public summaries state until you have the underlying tables in front of you.

The report’s method is part of the story. PPAI highlights three channels of economic impact — direct, indirect and induced — and a global GDP multiplier of 2.95: for every $1 million in GDP generated directly by the industry, an additional $1.95 million was supported elsewhere in the global economy. The definition of branded merchandise is also broader than traditional promotional products alone. PPAI lists licensed merchandise, apparel and workwear, retail-branded goods, creator merchandise, print-on-demand and e-commerce products, recognition gifts, and merchandise used in marketing, events and brand activations — united as tangible expressions of a brand.

For UK distributors and agencies pitching corporate programmes, the practical use is board-level context, not a line-item ROI claim. The numbers support a conversation about employment, tax contribution and supply-chain reach when a client asks why merch sits in the marketing mix. Keep the caveats in the room: 2025 figures as published, US-based association commission, global aggregates, and a definition that reaches beyond classic promo. Quote what Oxford Economics and PPAI published. Do not stretch them into a UK GDP share you have not seen.