News: Tech Nation 2017 report shows continued growth of digital sector
The latest Tech Nation annual report has found that the average salary for digital tech workers in Bristol & Bath, an industry that provides 35,924 jobs locally, has risen by almost 10 per cent in five years to top £47,063. Nationwide, tech careers now pay 44 per cent more than the national average wage.
Overall turnover in the digital cluster is measured at £8.1bn, while turnover in digital businesses here have grown by 87 per cent to make Bristol & Bath the largest cluster outside Greater London.
“Tech Nation 2017 shows that digital tech businesses are helping power the economic growth of Bristol & Bath, all of which are contributing to the cluster’s global reputation for technological excellence,” commented Matt Cross, Head of Inward Investment at Invest Bristol & Bath. “As digitization of industry is becoming pervasive across all industry our tech cluster’s reputation continues to expand. Adoption by a diverse range of traditionally non-digital industries such as banking, aerospace and city infrastructure (or Smart Cities) will ensure the continued success and growth of this cluster for years to come.”
The UK’s digital sector is creating jobs twice as fast as the wider economy and now attracts more investment than any other continental country – £6.8bn in 2016, compared to £2.4bn for closest rival France – leading other European nations in terms of size and value.
Bristol & Bath has attracted investment from US companies including Oracle, Strava and Japanese investment from Cookpad, as well as local growth from Ultrahaptics, BluWireless Technology and Graphcore who have all secured significant investment in recent months.
CEO of Tech City UK, Gerard Grech, added: “Tech Nation 2017 shows how rapidly the UK’s tech innovation and productivity are gathering momentum. There are now significant tech hubs all over the UK, attracting both international investment and overseas talent.
“These foundations will be crucial as we prepare to leave the EU. We need to maintain access to skilled workers while doubling down on homegrown tech talent. And we need to think big.”
Image – Jon Craig
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