Digital tech industries driving growth

posted by 6 years ago in News

A new report’s revealed that digital tech industries are growing 32 per cent faster than the rest of the UK economy.

The analysis in Tech Nation 2016 also highlights that Digital Tech Industries are creating employment opportunities and accounting for 1.56 million jobs across the UK.

Compiled by Tech City UK and innovation charity Nesta, the report charts the development of digital tech industries across the UK. It published that:

• London has by far the largest number of people employed in digital jobs and a turnover total of £62.4 billion

• This was followed by Manchester which has 51,901 people in digital jobs

• Bristol and Bath have the greatest productivity rate of sales per worker

• Digital salary growth is highest in Leeds at 29 per cent

There are also positive signs for the future of digital tech industries! The findings indicate that the sector will continue to attract future talent with the average salary in digital roles just under £50,000 which is 36 per cent higher than the national average.

The report highlights that digital skills and specialisms are also now thriving beyond the tech sector in the UK with 41 per cent of Digital Tech Economy jobs existing in what are thought of as traditionally non-digital industries – such as the public sector and financial services.

Head of Philip Brennan says tech companies are able to provide a highly competitive service:

“I’m not surprised by the findings of the report. We set up in 2015 in response to a lack of financial technology solutions specifically for business owners to compare deals on energy, loans, bank accounts, commercial mortgages and alternative finance. Since then we’ve seen the business grow to 30,000 visitors a month. We’ve had an incredibly successful start and even been named SME Website of the Year 2016 – these growth results demonstrate what a massive achievement that is in an ever growing tech industry. With doom and gloom readily predicted about the fate of small businesses in the UK following Brexit this is a welcome reflection on what is a growing and successful market.”