Relocations to UK Tech Hubs
08 Jul 2022 | Louise Chilcott, Business Development Manager
One of the UK’s strengths is its prosperous IT sector.
2021 was another record-breaking year for the UK tech sector reporting over £29.4 billion invested across startups and scaleups, its highest ever level of investment. Over 72% of this investment came from outside of the UK.
The pandemic accelerated the speed of digital transformation, boosting the IT sector and encouraging even more IT workers to consider the UK as their location.
The number of employees in the IT, software and computer services economy of the UK has grown steadily during the last years and gathering pace in recent times. Employment in the sector grew by almost 11% in 2020 and by 9.14% in 2021.
Research shows that 54% of over 1,800 global IT professionals who would consider relocating to the UK would think about opportunities outside of London. Manchester is the largest technology hub in the UK other than the capital. The city has a range of tech-led businesses and startups, but its IoT (Internet of Things) community stands out from the other tech hubs in the UK.
“As well as the relatively low cost of living, there’s also a surge in opportunities in the North of the country. A growing number of established businesses such as the BBC, KPMG, HSBC, Xplor, and Burberry have all opted to open major locations in the North in recent years,” explains Business Up North. “The region has also given rise to many thriving born-and-bred tech businesses — to date, 12 technology companies founded in the North have achieved unicorn status.” (Unicorn businesses are privately owned startups worth over $1 billion.)
“The growth in flexible working also means employees are no longer spending every day, 9-5, in the office, meaning the location of the company is less important than it once was,” adds Antony Walker, deputy CEO of techUK. “Companies can get away with not having offices in the larger, expensive cities – like London – as employees are prioritising flexibility and convenience over the prestige of an office address.”
What does this mean for international relocations?
“We’re seeing a rise in workforce mobility within the IT industry,” says Sarah Huntridge of BTR International. “Our network of trusted partners enables us to help assignees to relocate both to and from the UK involving any other global location. London was always the most in-demand UK destination. It’s interesting to see that northern UK hubs are increasingly popular.”
Do you manage your organisation’s global mobility programme?
Do you relocate assignees to or from the UK?