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Is the UK Considered a Tech Savvy’s Heaven?

Posted by: Megan Speet

According to a study carried out by Tech City UK, reports show that people employed in the UK’s tech industry earn 44% more per salaries than any other industry.

In 2010, then Prime Minister David Cameron launched Tech City UK, a company that specialises in support and management solutions for both digital businesses and entrepreneurs. Earlier this year, Tech City released Tech Nation 2017, a flagship research programme offering further insight into the scale and diversity of the UK’s booming digital industry. The survey had over 2,700 respondents from digital businesses across the country and included over 1000 data points, 220 community partners, 61 tech start-up case studies and 30 UK tech clusters; making the study the most comprehensive on the UK’s tech ecosystem to date.

It is no shock that the findings were nothing but positive, a success story for not only those in the UK tech industry, but a giant leap for the UK as a whole. Tech Nation 2017 found that 1.6 million people are employed in the UK tech industry; an industry that turned over an estimated £170 billion in 2015. This sector has reportedly contributed £97 billion to the UK’s wider economy in 2015 and shows no signs of slowing down.

“Tremendous momentum and results have been achieved in and by the UK’s tech community in recent years but we must continue to ensure that we have the best possible ecosystem in place to help the sector achieve its full potential.” Eileen Burbidge, Partner, Passion Capital and Chair for Tech City UK said. “In addition, we must also commit to ensure that our young people have the skills and aptitude needed for a career in this industry that is having an impact on every part of UK life.”

Over the past year, the digital tech industry has generated 85,000 jobs meaning an increase from a total of 1.56 million in 2014 to 1.64 million in 2015. This industry is creating jobs at double the rate of the rest of the economy. According to government, the UK approved 168,447 work visas in 2015, a 4% rise compared to the year before. Information and Communication sponsored skilled visas accounted for a huge 42.56% of the total visa number. This only serves to display the constant growth in the industry. In addition, the tech industry received a £6.8 billion investment in 2016 -more than twice the size of any other European country in the same year.

Gerard Grech, CEO of Tech City UK, commented on the research programme and it’s correlation with Brexit. “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. Tech careers now pay 44% more than the national average wage. These foundations will be crucial as we prepare to leave the EU. We need to maintain access to skilled workers while doubling down on home grown tech talent. And we need to think big. This report is all about working together on a common vision: the UK as a global leader in tech.”

In further detail, Tech Nation 2017 shows that the average advertised salary for digital-tech jobs has now reached £50,663 a year, compared with £31,155 for the average non-digital salary, making it 44% higher than the national average.

These findings prove that the UK is a dream for any person interested in working for or starting a business in tech. Along with opportunities to not only meet people in the UK’s growing tech cluster, there are added benefits to being able to reach out on a global scale to investors and entrepreneurs. With its fast growing amount of employees in the industry along with its huge boosts to the economy, the UK has solidified its place as the global leader of innovation and progression in the tech industry

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