February 13 ,2016 | by Helen Gould

UK digital businesses growing faster than other sectors, says Tech City UK report

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The UK’s digital businesses are growing 32% faster than other sectors in the economy, according to research from Tech City UK.

The latest Tech Nation 2016 report, which surveyed 2,000 digital businesses, showed that the they had a combined annual turnover of £161bn.

Growth

Digital is one of the UK’s most thriving sectors, with over 1.56 million people employed. It experienced a growth of 11.2% in the number of jobs between 2011 and 2014.

The digital sector was also found to create highly paid job opportunities across the UK, with growth in this area nearly three times faster than others. The average industry salary of £50,000 is over 30% higher than the national average.

Diverse

The digital tech economy was also found to be “increasingly diverse”, with the report stating that “digital innovation is having an impact across businesses and the people working for them.”

Prime Minister David Cameron commented on the report, stating that the UK is becoming a “true Tech Nation.”

“Britain’s world leading tech sector gives us a competitive edge that is not just transforming our daily lives but also our economy,” he said.

Tech City UK chair Eileen Burbidge and Tech City UK CEO Gerard Grech said that the 2016 report “demonstrates the clear contribution that digital technology is making to employment in digital and traditional industries, and to the economy across the country.”

Helen Gould

Helen is a News Writer for LSBF who writes about education, careers, sustainable business, and women in business.

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