Internet sector adds £717 million to North East economy

January 24, 2020 @ 11:27 by Richard Dawson

New research by the Internet Association says that the internet is driving the economy of the North East through jobs, businesses and output.

Nationally, the internet is thought to contribute approximately 400,000 jobs, 80,000 businesses and £45 billion in GVA to the UK’s overall GDP.

These figures equate to about 1.2 per cent of UK jobs, 3.1 per cent of businesses and 2.3 per cent of GDP.

For the North East, the estimated number of internet sector jobs is 10,000, with the number of businesses estimated at 1200 and value-added from the internet sector approximately £717 million.

The Internet Association uses a proprietary measurement approach to calculate the impact of the internet economy at a regional level.

The research found that Tynemouth had both the highest concentration of internet sector jobs at 1400.

Tynemouth is also the largest contributor to value-added with over £57 million in contributions.

The second and third greatest contributors are Newcastle-upon-Tyne Central and Newcastle-upon-Tyne North, creating £49 and £41 million respectively.

UK executive director of the Internet Association, Daniel Dyball, said: “These figures highlight the true value of the internet sector to communities in the North East. From Redcar to Newcastle-upon-Tyne, the internet is a major economic engine in the region.”