The digital economy has overtaken industrial sectors such as manufacturing, mining and power generation to become the UK’s largest economic sector, according to the latest statistics from the UK Center for Economic and Business Research.
The digital economy, made up of the media, the Internet and creative industries such as film, music and advertising, has become the UK’s largest economic sector, accounting for 14.4% of last year’s total value added to the UK economy, Bloomberg reported April 1. Last year, Britain’s digital industry grew 4.6%, more than three times times the rate of GDP growth.
But the report warns that the industry will face the challenge of a shortage of skilled labour after Brexit. At the same time, the industry is moving away from London, influenced by the exorbitant factors of house prices.