According to a survey conducted by IT recruiter Randstad Technologies, tech is the safest industry to work in. The study found that the sector’s total wage bill had risen 82% between 2002 and 2014 – growing to £32bn.
Oxford Economics has estimated that the number of UK tech firms will grow by over 50,000 by 2025, with the increasing need for software hailed as primarily responsible for the growth.
“With a flourishing tech scene and one of the world’s leading financial centres, it is no surprise to see that London’s tech companies are attracting record levels of investment” says Boris Johnson.
“Our world-class talent pool and our culture of innovation and entrepreneurial spirit are helping the sector to grow from strength to strength. we can expect the capital’s tech sector to continue to generate jobs and growth for the city’s economy for many years to come”.
Ruth Jacobs, MD of Randstad Technologies added:
“The increasing demand for tech has been the umbrella which shattered the sector from the storm of the recession”.
“The demand for people with advanced IT skills will only grow in the future, as Britain will need 2.2m digitally skilled workers by 2020 to match the sector’s potential”.