Guernsey's digital sector has 'untapped potential'

Research from PwC suggested Guernsey's digital economy could rise by £150m a year if changes are made

Guernsey could boost its economy by £150m a year if it matched the digital productivity of similar-sized locations, researchers have suggested.

A study conducted by PricewaterhouseCoopers (PwC) for the States of Guernsey said there was "untapped potential" in the sector's output across the island's businesses.

It said Guernsey's digital sector had solid foundations with £120m currently generated a year, but bringing the industry in line with comparable jurisdictions such as Luxembourg could see this figure jump up to £270m.

Researchers added with the right investment, support and focus, the sector could drive the island's economic growth.

The report said priorities to boost Guernsey's digital sector included enhancing support services, to bring digital literacy into schools and offering grants and incentives to boost research, ideas and innovation.

"The time to act is now," PwC said in its report.

"As we have seen [previously] in our Boosting the Channel Islands Workforce report, Guernsey's ageing population will increasingly be a drag on prosperity.

"Investing in a thriving digital economy could help alleviate this and yield a much needed digital dividend."