North East tech sector fastest growing in UK, report shows
The North East has the fastest growing tech sector in the UK, with the region’s GVA contribution being double the UK average, according to a report from the Office for National Statistics.
The report showed that the GVA contribution of the region’s Information and Communications sector experienced a growth of 14.9 per cent.
According to the figures, London had the highest GVA per head in 2015 at £43,629, whilst Wales was found to have had the lowest at £18,002.
The report looked at annual growth in total GVA and found that the North West was the UK’s fastest growing NUTS1 region in 2015, with a total GVA growth of 3.6 per cent, whilst the East Midlands was found to have had the slowest growth in the same year at 1.8 per cent.
Commenting on the findings, Digital Union’s Jim Mawdsley stated: “This huge leap in GVA contribution both reflects and underpins what we have been saying for a while now. Not only is the whole tech sector growing quicker in the North East, but businesses and the people who work for them are more productive than in other regions.”
He went on to list a number of large organisations that have significant bases in the North East, including BT, Accenture and Hewlett Packard. The region is also home to several fast-growing SMEs, such as Orange Bus and Enigma Interactive.
Commenting on the future of the tech sector in the North East, Mawdsley said that he expects 2017 to show continuing signs and proof of growth.