The Economic Impact of Huawei in the UK
In 2019, Huawei supported a £3.3 billion contribution to UK GDP. The company also had a sizeable impact on the UK labour market. We estimate the company supported 51,000 jobs in the UK in 2019. Huawei is estimated to have supported £1.1 billion in tax receipts for HM Exchequer in 2019. This would be sufficient to fund the annual salaries of 30,400 teachers in UK schools.
Huawei’s impact is felt across the UK’s nations and regions. In 2019, 50% of the GDP and 57% of the jobs it is estimated to support occurred outside of London and the South East. This will be boosted in future by its opening of new offices in Manchester and its new 5G Training Centre in Birmingham in 2019.
Huawei has also supported a wider, ‘catalytic’ contribution to the UK economy through its spending on R&D, internal training, and external training to upskill the UK labour force. This in turn contributes to the increase in the productive capacity of the economy. In 2019, Huawei undertook R&D at six locations across the UK. The company currently employs 582 engineers in its R&D function. In 2019, Huawei spent 1.1 million on vocational training to upskill its own staff. Huawei also contributed to the skillset available in the wider UK economy through its provision of external training. In 2019, Huawei opened the 5G Birmingham Training Centre offering 5G training to its business partners’ engineers. The company’s ICT Academy, Learn On and Seeds for the Future programmes boost ICT skills around the country.
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. Lead consultants on this project were:
Oxford Economics’ team is expert at applying advanced economic tools that provide valuable insights into today’s most pressing business, financial, and policy issues.
To find out more about our capabilities, contact:
EMEA
Sam Moore
+44 (0)207 803 1415
Email
Americas
Hamilton Galloway
+1 (646) 503 3068
Email
Asia
Rhianne Clark
+65 6850 0112
Email
