Business Services

Scotland's £10.7bn digital opportunity

Devices - A report by oxford economics - SantanderCB

A report by Oxford Economics and Virgin Media Business has calculated that investment in digital technologies could provide a £10.7bn annual boost to Scottish businesses, if all companies in the country had access to the best digital capabilities. It could also directly result in the creation of 101,000 new jobs. Senior executives at over 1,000 UK-based companies representing 470,000 workers were polled as part of the study, revealing that businesses increased their revenues by 5.3% in the last year simply due to the impact of digital capabilities. Looking ahead, Scottish firms are optimistic about the potential of digital to continue to drive growth over the next two years. In percentage growth terms, the potential boost to Scotland's economy represents an increase of 3.6%, which matches London's potential increase. It also compares with the potential increase of 3.1% in both the South East and North West.


Note: News bulletin content has been provided by a third-party and is not the opinion of Santander

Other Articles

When you’re an established business, recruiting top talent in all the areas you need can seem like a never-ending challenge.


If you’re a start-up or small business, how can you put together an attractive employee package to appeal to top talent – graduate and…


Mexico is predicted to become one of the world’s top 10 economies in the next 10 or 20 years.

Stop fraud

More than one million incidents of financial fraud occurred in the first six months of 2016, according to official figures released by…

UK manufacturing

Facts and figures release by EEF and Santander reveal Britain is now the 9th largest industrial nation with an annual output worth $247…

Where Next?