The Design Economy 2015 report states that £71.7 billion was contributed to the economy in 2013, by designers working in both design-specific and non-design industries.
The research shows the design industry to be the ninth biggest employer in the UK, with an estimated 580,000 people working across the sector, and a further one million designers employed in non-design industries.
From 2009 to 2013, the design economy's gross value added (GVA) increased by 27.9 per cent – significantly higher than the 18.1 per cent rise in the UK economy as a whole.
"Design Council has long recognised design's contribution to economic growth, and this new report provides evidence of how investment in design is helping to raise productivity, stimulate growth and make Britain more prosperous," commented Design Council chief executive John Mathers.
"The figures in our latest report speak for themselves," he added. "The design economy is creating thousands of jobs, exponentially improving British export markets and contributing billions to our economy. It is vital that it is recognised and supported in order for this growth to continue."
A recent report published by GLA Economics valued the creative industries in London at an estimated £34.6 billion, accounting for 10.7 per cent of the city's economic output.
It also revealed that Londoners working in the creative industry have an almost 20 per cent higher average hourly salary, compared to those in non-creative jobs.
However while reports show encouraging figures, architects and designers have expressed concern for the UK's creative status, with duo Barber and Osgerby claiming the UK government doesn't value the role of creativity.
Norman Foster believes London's economic prosperity will prompt a creative exodus from the city, while Second Home founder Rohan Silva warned that the flow of creative people from New York to Los Angeles is "a cautionary tale for London".