Newcastle has been establishing itself as one of the UK’s top locations for digital businesses, in January 2020 this was recognised as the BBC selected the city to be its base for its design and technology hub.
The digital and creative sector in Newcastle contributes over £1.3billion to the city’s economy and supports over 25,000 jobs with an average salary of £35,000 per annum. The city is reported to be second in the UK for high-growth digital businesses.
In other sectors, Newcastle’s economy is growing rapidly. The city is incredibly forward in the industries that are growing and gaining momentum with knowledge intensive sectors, such as medical science, and tech driving consistent economic growth. Newcastle is one of only 6 designated UK Science Cities and is internationally renowned for its pioneering research and diagnostics.
There are also four national excellence centres in the city that focus on sectors such as offshore engineering, life sciences, big data and energy systems.
Newcastle has a tremendous business and professional services sector, with over 19,000 companies operating in the sector and with the third largest concentration of employees working in financial, legal and accounting, in the country.