The latest Tech Nation Report from Tech City UK reveals that the UK is the digital capital of Europe due to its booming tech industry.
The report contains in depth analysis of more than 2700 survey responses and interviews with tech founders, thousands of economic and business data points and more than 220 insights from community partners across the UK.
In 2016, UK digital tech investment reached £6.8 billion, 50 percent higher than any other European country.
The UK is Europe's digital tech skills hub and home to eight of Europe's top 20 universities.
Up 10 percent in only five years, UK digital tech turnover has reached almost £100 billion.
“It is critical that we future proof what we have achieved so far. The recently announced digital strategy from the UK government is already setting us on the right path. Tech is a critical juncture and as we head into the future we must reassure founders, investor, international talent and our home-grown digital workforce that the UK is and will remain the best place to start and scale world-class digital businesses,” said Eileen Burbridge and Gerard Grech, chair and CEO of Tech City UK, respectively.
Digital tech workers are helping to boost the wider UK economy through higher productivity levels per worker. The GVA of a digital tech worker is now more than twice that of a non-digital worker.
The report demonstrates that London is a “digital powerhouse”, exceeding any other city in the UK with over 300,000 digital jobs. Manchester follows with more than 62,000 digital jobs.
In emailed commentary to SC Media UK, Raj Samani, CTO EMEA at Intel Security said, “This news more than ever highlights the need to start combatting the skills shortage in the UK. The cyber-security industry in particular is currently facing a significant talent deficit.
“The truth is that traditional education is not preparing individuals for cyber-security jobs. In addition to redirecting the curriculum to focus further on cyber-security, we need to look beyond higher education to train people for the profession in order to keep up with the growth rate of digital jobs."
Alex Guillen-Estudillo, go to market marketing manager, Insight UK told SC: “It is vital that businesses are investing now in the digital foundations to succeed in the future – whether using Machine Learning to derive value from data, moving applications to the cloud to drive greater efficiency or even deploying the latest VR tech to transform their business models.”