UK economy to get GBP 120 billion boost from full fibre - study

Tuesday 13 March 2018 | 21:16 CET | News

The total economic impact of deploying full-fibre ultrafast broadband networks across 100 distinct city and town areas of the UK could reach GBP 120 billion over a 15-year period, according to a new report from Regeneris Consulting commissioned by full-fibre infrastructure builder CityFibre. 

The study examines 10 areas of the UK economy likely to benefit from the roll-out of full-fibre networks, and the impact of each of these on the 100 towns and city economies. It shows that access to full-fibre could unlock GBP 4.5 billion in business productivity, innovation and access to new markets in these locations. An additional GBP 2.3 billion in growth could come from catalysing new start-ups; with a further GBP 1.9 billion potentially added by the increased ability of businesses to offer flexible working. 

Access to ultrafast full-fibre broadband could also add up to GBP 7 billion to the value of homes. Full fibre could also generate GBP 28 billion in benefits from the roll-out of 5G, and GBP 10 billion in benefits for the Internet of Things (IoT) and Industry 4.0. Smart City developments could add up to GBP 5 billion in the 100 locations examined, with an additional GBP 1.1 billion benefit coming from technological improvements to healthcare services. 

The study also shows that the network roll-out itself could drive direct economic growth worth GBP 2.1 billion, creating up to 7,000 construction and civil engineering jobs at the height of deployment. CityFibre is currently rolling out full-fibre networks 42 towns and cities, and aims to reach 100 towns and cities. 

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