Recent release | 18 Nov 2014
The impact of the Innovation, Research and Technology Sector on the UK economy
Economic Consulting Team
Oxford Economics
Oxford Economics has estimated the contribution of the innovation, research and technology sector to the UK economy, taking into account not only the direct, indirect (supply chain) and induced (employee spending) impacts, but also a range of additional or ‘catalytic’ impacts.
The latter are particularly important for this sector, due to the amount of research and development undertaken by the organisations themselves and to activities enhancing the benefits of R&D undertaken by universities and industry (e.g. through collaboration, networking and the provision of facilities such as technology parks).
Taking all of these impacts into account, we estimate the sector’s contribution to the UK economy in 2013 to have been in the £32-36 billion range, or some 2.3-2.6% of total GDP.
About the team
Our economic consulting team are world leaders in quantitative economic analysis, working with clients around the globe and across sectors to build models, forecast markets and evaluate interventions using state-of-the art techniques.
Related Services
Post
The Economic Footprint of JLR in the UK
This report examines the economic footprint of JLR in the United Kingdom in 2024. The analysis is conducted both at the national level, as well as on the West Midlands and North West regions, where JLR’s main facilities are located.
Find Out More
Post
Airbnb’s Economic Contribution to APAC in 2024: GDP, Jobs, and Regional Impact
Airbnb's platform connects hosts across Asia Pacific (APAC) with travellers from around the world. Oxford Economics was commissioned by Airbnb to quantify its economic footprint in 10 APAC markets in 2024.
Find Out More
Post
Economic Insights: Airbnb’s Contribution Through the Lens of Oxford Economics
Oxford Economics Australia delivered a tailored economic impact assessment for Airbnb, including GDP contribution modelling, job creation analytics, guest‑spend segmentation, and regional tourism dispersion insights to underpin Airbnb’s stakeholder communications and strategic growth initiatives.
Find Out More