Market Update: We break down the business implications, market impact, and expert insights related to Market Update: Driving Growth and Business Empowerment – Full Analysis.
A trusted partner
From the emergence of the first commercially successful computers to today’s era of cloud and artificial intelligence, we have navigated multiple waves of technological transformation over the past five decades together with UK businesses. Today, the impact of our work on the country’s economy, industries, and communities is significant–and this is underlined by the findings of a recent independent report from Oxford Economics that analyses the 2023/2024 financial year (FY2024).
As a result of our shared successes as a trusted partner with UK businesses and the talent that drives TCS, our total contribution to UK GDP was £3.3 billion in FY2024, the report reveals. This figure comprises three channels of impact:
- £1.7 billion came directly from our business activities
- £350 million from procurement spending and the economic activity it generated
- £1.2 billion contribution supported through consumer spending resulting from TCS business activities
We are proud that the release of this report comes while we are celebrating our 50-year milestone at TCS. For 50 years, we have been the Nation’s trusted technology partner, building greater futures together with UK businesses, institutions, and communities. As a partner of 48 of the FTSE 100 and 200 of the biggest British brands, from Virgin Atlantic and Barclays in the private sector to the National Grid and NEST in the public sector, we’re trusted by Britain’s biggest businesses and institutions to help improve life across the UK. Since our first office in 1975, we have grown to become a driving force of the UK economy. Stretching into Scotland and Wales as well as beyond the UK into Ireland, Wales, we play a critical role as a foundational partner in the economy.
Looking forward to the next 50 years, our focus is on continuing to drive innovation and growth, empowering UK businesses and society in the next era of technology transformation–and this report about our impact over the previous year is another valuable reminder of the importance of this focus.