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Software industry's contribution to the UK's economy is stunning

UK’s software industry contributes to the country’s GDP with £124.8 billion every year, according to a new report by the BSA | The Software Alliance (opens in new tab). Showing just how important the software industry is for the country, but for the European continent as a whole, the report lays down some amazing numbers. The industry is supporting close to 2.6 million high-quality, well-paying jobs, which is basically almost ten per cent of all jobs in the country (8.4 per cent, to be exact). The report also says that it contributes 9.7 per cent to research and development, amounting to £1.76 billion. 

“Unlike traditional industry sectors, software doesn’t need an external catalyst for change – it is the catalyst,” said Victoria Espinel, President and CEO of BSA | The Software Alliance.  

“Software will continue to revolutionise how we work, communicate, plan, and create, in ways that we can only now begin to fathom. Software-driven data innovation and data analytics are leading to benefits throughout broad sectors of the EU economy. Every aspect of every business and every government department depends on software to become more inventive, more creative, more competitive, and more efficient.” 

In Germany, the software industry contributes a total of 5.2 per cent of the entire GDP (£119 billion), and supports almost 2 million jobs (4.5 per cent of all jobs in the country. In France, it contributes with £88.1 billion (5.3 per cent of French GDP), and supports 1,198,304 jobs (4.4 per cent of all jobs).  

Image source: Shutterstock/niroworld

Sead Fadilpašić
Sead Fadilpašić

Sead Fadilpašić is a freelance tech writer and journalist with more than 17 years experience writing technology-focussed news, blogs, whitepapers, reviews, and ebooks. And his work has featured in online media outlets from all over the world, including Al Jazeera Balkans (where he was a Multimedia Journalist), Crypto News, TechRadar Pro, and IT Pro Portal, where he has written news and features for over five years. Sead's experience also includes writing for inbound marketing, where he creates technology-based content for clients from London to Singapore. Sead is a HubSpot-certified content creator.