UK technology sector is worth more than £90bn

The UK’s technology sector is worth £91.1bn; more than the construction industry, double that of legal and accounting services and three times that of the sports and recreation, film, television and gambling industies combined, according to analysis by skills organisation, The Tech Partnership.

More than 1.72m people are employed in the sector; 5% of the UK workforce. “This number can only be set to grow with employers actively seeking to widen the UK’s tech skills base through apprenticeships, employer-designed degrees and more,” it said.

According to it’s analysis (pdf) The Gross Value Added (GVA) per person, or the measure of personal contribution to the economy, was £91,800 in 2013 compared with £51,300 for the average UK worker.

The tech industry’s Gross Value Added grew by 10% in 2012-13; three times more than the UK industry’s GVA as a whole.

The number of technology enterprises grew by 11% between 2008 and 2013; amounting to more than 15,000 new technology businesses. The total number of enterprises in the UK increased by just 0.3% in the same time.

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