Cloud Computing Will Be Key Area For UK Job Creation

Storage solutions provider EMC has released a report which claims that the cloud computing industry could create 300,000 jobs in the UK by 2015.

The research for the report, which was titled '2011 Cloud Dividend', was carried out by the Centre for Economics and Business Research. The report aimed at studying the economic impact of cloud computing on European industry.

Sandra Hamilton, EMC's vice president for Europe, told Channel Web, “a critical element in businesses achieving the competitive advantage presented by cloud computing lies in the successful virtualisation of mission-critical and revenue-generating applications.”

She added, "t hat will be key to realising the full cloud dividend – and to deriving the powerful growth and productivity gains which, as the new report shows, can lead to meaningful job creation across the EMEA region.”

According to the report, the cloud computing rollout across Europe will create 2.4 million jobs and will reap economic benefits of €763 billion for industries within the countries. The retail and hotel sectors will benefit the most, earning a projected €233 billion from cloud computing, the report said. Meanwhile, t he banking and financial sector should generate 207,000 jobs and €184 billion.