UK digital tech investment outstrips Germany and France combined
27 Mar 2017
Investment in the UK digital technological sector since 2011 has been 37% higher than France and Germany combined, says the third annual Tech Nation report.
It indicates that Britain attracted some £28 billion in the period compared with £11 billion for France and £9.3 billion for Germany. In 2016 alone the UK figure was £6.8 billion, compared to £2.4 billion in France and £1.4 billion in Germany.
Statistics also show that the growth is not focused only on the South East but has also yielded benefits for regional development.
Nearly three quarters of private equity and venture capital investment targeted regional business last year. Outside London, the digital leaders include Edinburgh for data analytics, Belfast for cyber security, Cambridge for AI, with Newcastle, Bournemouth and Poole also significant.
And the rate of growth in the digital economy is now double that for the economy overall, suggests Tech Nation. Digital tech jobs have also grown twice as fast as other tech jobs, noted prime Minister Theresa May in the foreword to the report.
The figures are based on a survey of nearly 3,000 industry workers as well as financial investors.