The latest Tech Nation report from Tech City has revealed that the UK is in fact the digital capital of Europe, with investment in the sector last year peaking at £6.8 billion – 50 per cent higher than any other country in Europe.
What’s more, digital tech turnover in the country has reached nearly £100 billion, climbing ten per cent in just five years. In terms of jobs, the UK has 1.64 million positions, with job creation in the industry now outpacing non-digital. Between 2011 and 2015, the growth rate for digital jobs was more than double that of non-digital positions.
Interestingly, some 68 per cent of digital tech investment in the UK last year was in fact in regional clusters outside London, attracting more than £4.6 billion in funding. Cambridge and Edinburgh were found to have had the most invested in clusters – so if you’re taking mechatronics courses or similar with a view to moving up the career ladder, it may be worth looking for new jobs in these two cities.
Chair of Tech City UK Eileen Burbridge and Gerard Grech, CEO of the company, noted in their foreword to the report: “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 at a critical juncture and as we head into the future we must reassure founders, investors, 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.”
They went on to add that the two main drivers of growth are investment and talent – which may well be affected by Brexit.