The Tech Nation 2017 report shows that the UK digital tech sector is one of the country’s economic success stories, growing twice as fast as the wider economy and creating highly skilled workers and well-paid jobs.
The UK sector remains at the epicentre of the European tech scene but the new report also reveals some important new data that underlines how significant the sector is to generating economic growth nationwide:
- The UK’s digital tech industry turned over an estimated £170 billion in 2015, and is growing at twice the rate of the rest of the economy and is key to boosting the UK’s wider economy with a contribution of £97 billion in 2015.
- The digital tech industry generated a further 85,000 jobs over the past year from 1.56 million in 2014 to 1.64 million in 2015, creating jobs at double the rate of the rest of the economy.
- Similarly, since 2012 there has been a 13% increase in the advertised salaries of digital tech posts, compared with only a 4% rise in those of non-digital jobs.
- Tech investment in the UK reached £6.8bn in 2016, more than two times higher than any other European country and significantly more than its closest rival, France, which secured £2.4bn.
Middlesbrough has been recognized as a tech cluster for the first time, highlighting the recent investment in the world-class Boho Zone, and the prestigious companies now based there.
With a £211 million digital GVA, and 6,970 digital jobs in the cluster, it’s clear the sector is thriving.
Read more about the digital economy in Middlesbrough: http://technation.techcityuk.com/cluster/middlesbrough