The digital economy in Hull is thriving according to the Tech Nation 2017 survey, but what is it about our re-energised city that is so attractive to high tech businesses?
Hull is one of 30 areas featured in the survey that’s described as “a journey across the UK’s digital landscape that provides a data-rich analysis of Britain’s thriving digital economy and clusters.”
The report reveals that the digital economy in Hull adds a staggering £254m annually to the local economy , creating almost 7,000 jobs.
Hull’s high proportion of ultrafast broadband is seen as a major reason for the growth of digital start-ups in the city and booming high tech “clusters” such as the C4DI building on Queen St.
The report states: “Hull’s high-speed connectivity (it is the only city in the UK not served by BT) is helpful too – full fibre is available to more than half its businesses and homes, a significantly higher proportion than the national average.”
Hull is further advantaged because of its affordability, with the average digital salary of c. £35k and the average house price being £113k, making it an attractive proposition to professionals seeking a better quality of life.
It said: “The area that was most highly rated for cost of living was Hull. Digital tech salaries in this Yorkshire city may be the second lowest of all our 30 clusters, but those earnings still go further. For instance, Hull has a salary/house price ratio of just 3.2.”