London's Digital Economy

This report draws together a variety of data sources to highlight London’s position in the digital arena. The report looks at uptake and use of digital technologies by businesses and households. Amongst the findings are:

• There are over 23,000 ICT and software companies in London – the highest number of any European city. London specialises in the technology industry hosting a quarter of all British jobs in computer and related activities employment and 22 per cent of British jobs in Telecommunications. London has the highest level of private equity and venture capitalists investments into technology companies of the UK regions. In 2010 they invested £453 million into 60 companies in the city.

• London adults are more likely than those in the rest of the country to access the internet by mobile phone.

• The Broadband Quality Survey 2010 shows that UK broadband services enable users to “comfortably enjoy” the latest web applications but still lag someway behind the best in the world, such as those in South Korea, Hong Kong and Japan. The Survey scores London at 30, the same as Glasgow and one point higher than Birmingham. This compares to the winning city of Seoul that has an overall score of 73. Both Virgin and BT are in the process of updating their networks to offer their customers superfast broadband and the Government recently announced that they are creating a new £100 million urban broadband fund part of which will benefit London.