Research by the South West Regional Development Agency finds the South West's economy could be boosted by £3 billion over the next five years, if businesses made more of their investment in advanced information and communications technology. If more businesses were to adopt the latest broadband technology, regional GVA could increase from just under £86.3bn (2005) to more than £89.3bn over a 5 to 7-year period. No other area apart from ICT could present such an opportunity to boost the economy in such a short space of time. But they also warn that action needs to be taken now, as new technology moves so fast.
The figures are based on the region's private businesses making more sophisticated use of ICT but if the public sector were also to come on board, the potential gain could be even higher. The South West RDA and its partners are encouraging the take-up and use of broadband by businesses across the region through the ConnectingSW partnership.
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Tags: Communications, Research
