The 2017 Technation Report, compiled by Tech City, was launched showing that the UK is the Digital Capital of Europe and a clear leader when it comes to digital tech investment, digital skills and collaboration within ecosystems.
Key findings on a UK-wide basis was that:
- The UK’s digital tech industry turned over an estimated £170 billion in 2015, and is growing at twice the rate of the rest of the economy and is key to boosting the UK’s wider economy with a contribution of £97 billion in 2015
- The digital tech industry generated a further 85,000 jobs over the past year from 1.56 million in 2014 to 1.64 million in 2015, creating jobs at double the rate of the rest of the economy.
- Similarly, since 2012 there has been a 13% increase in the advertised salaries of digital tech posts, compared with only a 4% rise in those of non-digital jobs.
- Tech investment in the UK reached £6.8bn in 2016, more than two times higher than any other European country and significantly more than its closest rival, France, which secured £2.4bn.
- Tech Nation 2017 shows that the average advertised salary for digital-tech jobs has now reached £50,663 a year, compared with £35,155 for the average non-digital salary, making it 44% higher than than the national average.
Key findings for Leeds included the fact that almost 24,000 Digital Industries jobs add £688 million to the local economy:
In addition, the survey revealed that 92% of local start ups said that the Tech Sector Growth Potential was important to them in Leeds, whilst 84% Overall Quality of Life and 66% named Strength of Digital Economy as attractive in Leeds.
74% Local startups continued to be challenged by the lack of Skilled Workers whilst 45% had problems retaining good staff and 36% were struggling with a low level of awareness of the Local Digital Industry.
The survey was compiled from 2,700 survey respondents from digital businesses across the country and with input from over 1000 data sources, 220 community partners, 61 tech startup case studies and 30 UK tech clusters.