‘The Economic Impact of Closing the Work Essential Digital Skills Gap’ is a landmark report that sets out the fiscal gains to be made from powering up the UK workforce with essential digital skills.
The research has been developed with the Centre for Economics and Business Research (Cebr) and was sponsored by the National Technology Adviser within the Department for Science, Innovation and Technology.
Headline stats
- The UK economy could see an annual boost of more than £23 billion p.a. from building the essential digital skills of the workforce.
- The income potential of the workforce would grow by over £10 billion p.a.
- UK industry could see a profitability increase of £8.5 billion.
This report sets out a clear potential boost to the UK economy, significant productivity benefits for industry, and – for individuals – a boost in both employment opportunities and personal prosperity.
This vital new data creates a compelling new business case for greater investment in digital skills, from both industry and government.
Dr Dave Smith, National Technology Adviser says:
“This report makes it crystal clear: investing in essential digital skills delivers real benefits for individuals, for businesses and for our economy. As technology reshapes every sector, businesses without basic digital capabilities risk being left behind. More importantly, individuals will also be left behind. That’s why building essential digital skills in their workforce must be a strategic priority for business.”
The FutureDotNow calculator
Also launching today, alongside the Economic Impact Report, is the FutureDotNow calculator.
Developed by Cebr, the calculator allows an organisation to estimate the economic benefits of upskilling their own workforce in the 20 tasks set out in the Essential Digital Skills Framework.
By inputting your sector, region and organisation size, the model provides organisations with a financial estimate of the productivity and profitability uplifts per worker, as well as an aggregate figure for the whole business.
The FutureDotNow calculator is a FutureDotNow members’ asset. If you’re already a member, you can access the calculator here.
