£400m a day makes digital sector ‘sweet spot’ in UK economy
- The UK’s “thriving” digital industry contributed £149bn to the UK economy in 2018 and has been outstripping the wider marketplace as a sector since it began to spike in 2015, according to government research.
- Electronic manufacturers are among a host of firms making up the wider digital sector which has been on an upward trajectory since the mid-2010s and saw nearly £400m accrue to the British economy every day in 2018, according to a report by the Department for Digital Culture Media and Sport (DCMS).
- The DCMS Sectors Economic Estimates 2018 report suggests that the digital sector accounted for 7.7% of the UK economy, up 7.9% on the previous year, meaning growth in the sector is nearly six times larger than growth across the economy as a whole, which increased by 1.4%.
- GVA (gross value added) by the digital sector has grown by more than 30% since 2010, with the Telecoms sector contributing more than £36bn, up by 35.4% since 2010.