Digital has potential to add £1.5bn to Welsh economy by 2020

According to the Welsh Government, Wales’s digital sector has the potential to add £1.5 billion to the economy by 2020.

It revealed this figure at the start of Welsh tech festival Digital 2015 yesterday.

The digital sector in Wales is made up of around 3,000 businesses and 24,000 people.

In February, a report by Tech City UK placed South Wales in the top five of the UK’s fastest tech clusters, with it a sporting a vibrant network of entrepreneurs to share ideas and good access to public finance.

Speaking before the event, Economy Minister Edwina Hart said: “Wales is punching above its weight on the world stage in terms of digital innovation, and I look forward to welcoming the key digital leaders innovators and influencers from the national technology scene to Wales.

“The Welsh Government has targeted this sector for its potential to add £1.5 billion to the Welsh economy over the next five years. We are funding research and development, supporting new start-ups and attracting inward investment to ensure Wales is at the forefront of the global digital economy.”

Image credit: Trey Ratcliff/Flickr