Digital’s economic value on a par with tourism

Digital’s economic value on a par with tourism

Dr George Windsor, head of insights, Tech Nation, oversaw the report: ‘We looked quite broadly across Jersey’s economy and we found that there was great strength when it came to the value being added by digital tech across the economy. We found it was incredibly complementary to existing strengths such as financial services, agriculture and tourism, but actually it stood as a sector in its own right and contributed significant value to the economy.’

The report also found there were 3,032 people employed in the tech economy with around 100 jobs being added each year. Talent was one of the key problems for the industry, but the Island isn’t alone in that challenge, however there is already evidence that jobs are being off-shored resulting in a loss of revenue to Jersey. Another issue facing digital businesses is the opportunity to scale up their companies, something which is linked to the problems faced in finding talent.

Tony Moretta, chief executive of Digital Jersey, said the findings confirmed comments he had made at the annual review and are a starting point to help Jersey begin tracking its digital economy. He wants to see the tech sector being talked about in the same way as agriculture, tourism and finance: ‘There are now four pillars of the economy, and what’s different about digital is that actually you need those skills in the other industries as well in order to improve productivity and outcomes. Digital is both a horizontal and vertical sector of the economy.’

In recognition of the importance of the sector, digital will for the first time be included in a major government roadshow where government representatives, Jersey Finance and Mr Moretta, are travelling to the USA to meet with major companies and representatives to develop opportunities there.

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