Here’s how much money digital firms contribute to UK

Sport, creative, digital and gambling industries, and the voluntary sector contributed £224.1 billion to the UK in 2018

UK’s e-commerce

Here’s how much money digital firms contribute to UK. Source: shutterstock.com

LearnBonds revealed that digital industries contribute £149 billion per year to the UK economy, which is equivalent to £400 million a day.

That adds up to 7.7% of British gross domestic product (GDP), according to the Department for Digital Culture Media and Sport (DCMS).

The data showed the digital sector grew by 7.9% in 2018 compared to 2017. It means that growth in the sector is nearly six times larger than growth across the whole economy, which increased by 1.4%.

Digital firms cover numerous startup fintech industries from challenger banks like Revolut, money transfer companies like Transferwise to online mortgage brokers like Trussle.

Technology is a sweet spot of our economy, bringing jobs and wealth across the country. We are working hard to continue this momentum by strengthening regional tech clusters supporting digital businesses and investing in people’s digital skills
Matt Warman, Digital Minister 

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