UK digital tech growing faster than other sectors

March 18, 2020 | FinTech

Written by FinTech Alliance

UK digital tech growing faster than other sectors

New report from Tech Nation say the sector in the UK grew six times faster than other industries

In Brief:

  • Digital tech contributes £149 billion to the UK economyand currently employs 2.9 million people throughout the four countries, a 40% increase from 2017
  • The amount of tech businesses in the UK worth between $250-800 million, according to the report, is the highest on record; 95, which is a 27% increase from 2018
  • The UK came in third globally for investment into artificial intelligence (£3.2bn) and fourth for blockchain (£8.9bn.

What this means

The tech sector already sits at the heart of the UK economy - creating jobs and wealth across the country. Protecting and nurturing the sector will be crucial in helping the UK rebound from the current economic crisis. 

Read more

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