Scotland's £10.7bn digital opportunity
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.
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