We have a digital revolution in the UK, but lack the data and sector classification to effectively measure and exploit it. Currently its contribution is hidden away in the wider services sector, which makes up almost 80% of the UK economy. We previously explored this subject in Is the UK Missing a Trick? It's Time to Recognise 'Digital Manufacturing'.
Recently this theme has re-emerged following Sir Charlie Bean, former deputy governor of the Bank of England, arguing that the internet revolution has rendered Britain’s official statistics out of date. We thought it worthy of revisiting the topic, this time with supporting data from the Boston Consulting Group (BCG).
The UK’s digital economy is an engine of growth