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“Stark divide” in UK’s regional tech sector could hold back future growth

London, the South East and East of England perform well, but the new report notes the necessity for levelling up in Northern Ireland, Wales and North East.

LONDON, 24 October 2022: Future economic growth could be held back because of the ‘stark regional divides’ in the UK’s technology sector, says techUK in a new report published yesterday.

The technology trade association has published the second iteration of the Local Digital Capital Index (LDC Index), which measures the strengths of the UK’s regional digital ecosystems, and concludes that a technology sector concentrated and reliant on the South of England isn’t sustainable for the wider UK economy. The trade body has called on the Government to work with the industry in order to secure future growth in the sector, create jobs and invest at a local level.

You can download the report here.

The LDC Index assessments are made across six components: digital infrastructure, finance and investment, skills, digital adoption, research and development, and trade. The findings present a picture of a nation digitally divided; techUK notes that there is a split between rural and urban areas but also between the South and the North and UK nations.

techUK’s Index found that Greater London and the South East scored consistently well across the various components. More localised data also found that the biggest tech investment hubs such as London, Oxfordshire, Gloucestershire, Bath and Bristol predictably show a strong digital ecosystem across multiple components.

However, Northern Ireland, Wales and the North East of England don’t perform as well, even though digital connectivity is relatively strong in the North East.

The lack of a consistently strong digital ecosystem across the UK poses a threat to the growth of the country. The technology sector has been growing exponentially, leading to more jobs and higher wages, and the Index shows that further investment is essential to tap into the digital ecosystems of those local areas currently falling behind to ensure their growth and for the benefit of the citizens.

Click here for the full press release

 

Channel website: http://www.techuk.org/

Original article link: https://www.techuk.org/resource/stark-divide-in-uk-s-regional-tech-sector-could-hold-back-future-growth.html

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