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Today marks the launch of Tech Nation 2017 from Tech City UK. Tech Nation 2017 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.

With over 1000 data points, 220 community partners, 61 tech startup case studies and 30 UK tech clusters, Tech Nation 2017 marks the most comprehensive study to date on the UK’s tech ecosystem.

Some key figures of the 2017 report:

THE UK IS THE DIGITAL CAPITAL OF EUROPE

  • In 2016 the UK secured £6.8 billion venture capital and private
    equity digital tech investment – that’s over 50% more than any other
    European country.
  • The UK is Europe’s digital tech skills hub. It is home to 8 of
    Europe’s top 20 universities. Furthermore, London has almost
    twice as many Github users (one of the world’s leading software
    development platforms) as Paris or Berlin.
  • Interpersonal networking is also critical to the UK’s
    success - last year, 22,000 Meetups (one of the world’s
    leading meetup platforms) took place in London –
    nearly three times as many as any other hub.

THE UK’S DIGITAL TECH INDUSTRIES PUNCH ABOVE THEIR WEIGHT

  • The UK has 1.64 million digital tech jobs. The growth rate of
    digital jobs was more than double that of non-digital jobs
    between 2011 and 2015.
  • The digital economy is growing 50% faster than the wider
    economy.
  • 2015 turnover of digital tech industries was £170 billion, up by
    22% in five years.
  • The economic output (GVA) of the digital tech industries
    is £97 billion.
  • The average digital salary in the UK is £50,663 - 44% higher
    than the average non-digital salary.
  • In 2016, 68% of digital tech investment, (over £4.6 billion),
    was recorded outside of the capital, testifying to a diversifying
    investment landscape.
  • Digital tech businesses are dynamic - 17% are high
    growth, compared with just under 10% in the non-digital sector.
  • Digital tech workers are helping to boost UK productivity. The
    GVA of a digital tech worker is more than twice that of a nondigital
    worker, (£103,000 compared to £50,000).
  • More than 50% of digital tech businesses told us that talent
    supply is their number one growth challenge.
  • Thirteen percent of digital tech employees in the UK are from
    abroad, this rises to 31% in London and the South East.

Source: http://technation.techcityuk.com/

You can download the report at the following link: http://technation.techcityuk.com/

22/03/2017

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