The UK is the leading destination in Europe for investment, global tech companies and start-ups, according to a new report from the Computer & Communications Industry Association (CCIA).
The study found the digital economy and online retail support £227 billion in economic action, with the UK’s digital sector adding a further £113 billion in gross value to the overall economy, supporting 1.6 million jobs.
The digital sector provides over 2.6 million jobs with an average annual pay of £45,700, 37% more than the UK average.
In 2022, the UK tech sector made US$30 billion in venture capital investment, being the third largest amount in the world, bringing in investments from global tech giants such as Amazon, Google and Microsoft.
CCIA Chief Economist and Research Centre Director, Trevor Wagener, said: “These findings reveal that the UK’s robust tech sector doesn’t just benefit the companies at the top – its Success contributes massively to the country’s workers, businesses of all sizes, and the wider economy across the UK.”
The CCIA highlighted that the UK government’s digital efforts have been a key success over recent years. According to the report, globally the UK is one of the most digitally advanced governments.
Andy Ward, VP International for Absolute Software, said: “The UK’s emphasis on technology in recent years has been a collaborative effort between government, regulators and industry to harness innovation and compete on the world stage.”
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