London’s tech sector will continue to thrive in wake of Brexit
Capital’s tech sector set to outpace wider UK and London economy over the next decade with employment growing by 18.5%
London’s technology sector will continue to grow, create jobs and boost the UK economy over the next 10 years, according to new findings announced by the deputy mayor of business Rajesh Agrawal today.
The research, commissioned by London & Partners, the capital will see employment grow by 18.5% over the next decade to 284,400 jobs by 2026, while the number of digital tech companies will increase by 33.2% over the same period to 61,800.
The pace of growth in the sector will outpace that of the wider UK and London economy. Agrawal will reveal the findings during his international trade visit to India, which is looking to bolster trade and tech links between the two nations.
Indian businesses are now estimated to be the second largest foreign investors into London, employing nearly 50,000 people in the city. Meanwhile, the UK is though to be the largest G20 investor in India, responsible for more than 9% of investment over the last 15 years.
Agrawal commented: “With everything London has to offer to exciting tech companies – from start-ups to established firms – it’s no surprise that this sector continues to play a crucial role in the capital’s vibrant economy.
“Over the last week I have met leading figures from Indian politics and business, including some innovative tech companies, and discussed how we strengthen the relationship between London and India.”