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UK’s ICT industry is worth £58bn annually, GDP Forecast review

grossbritannienThe ICT industry is worth £58bn annually in the UK according to the UK Trade & investment organisation. The UK government’s ICT strategy includes a strong focus on cloud technologies. The G-Cloud Programme is changing how the public sector buys and uses Information Technology (ICT). This means more opportunities for companies to access government contracts. It’s designed to support the purchase of cloud based services. By 2015 half of all new ICT spending by the UK government will be on public cloud services through the G-Cloud programme. This provides new opportunities for overseas companies looking to enter the market.”

Regarding the economy, The UK surpassed its pre-recession peak in the third quarter of 2013 according to ONS figures. Recent developments in European markets and the slowing growth in China will impact the UK as well, the Bank of England is expected to lower its growth and inflation forecasts for the UK, the August’s edition predicted growth of 3.5 per cent in 2014, three per cent in 2015 and 2.6 per cent in 2016.

Source: www.gov.uk, www.ons.gov.uk , www.bbc.co.uk , www.imf.org, www.cityam.com