Move to 5G could buoy Scotland by £12bn, says Vodafone report
The research, out today was commissioned by Vodafone and authored by Matthew Oakley, a former Treasury economist. It highlights how the 5G “revolution” – up to 100 times faster than 4G and able to handle much larger data usage – could help transform businesses across many sectors, including manufacturing and retail.
It calculated that in the five years to 2025, cumulative benefits to Scotland’s output stand at £2.9bn, and £9.3bn for the five years to 2030. Across a ten-year timeframe this means a boost to Scottish output worth £12.2bn.
Vodafone UK chief executive, Nick Jeffery, said: “5G will play a vital role as the economy recovers from the Covid-19 pandemic. It is crucial to recognise the role that fast and reliable connectivity will play in unlocking the digital potential that exists in every region across the country. 5G will provide new and exciting opportunities for businesses of all shapes and sizes and across all sectors.”
Scottish connectivity minister Paul Wheelhouse highlighted the creation of The Scotland 5G Centre, backed with £5.3 million of funding. He also said: “5G and digital technologies are critical to our future prosperity over the next decade and beyond – and now even more so as we plan our strategic economic recovery from Covid-19.”
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