Full fibre could give £1bn boost to Welsh economy says research

Openreach’s ongoing upgrades to full fibre broadband across Wales could deliver a £1 billion boost to the Welsh economy by 2029, according to a new report from experts at the Centre for Economics and Business Research (CEBR) and Stantec.

The economic impact of full fibre broadband has emerged alongside news that more than a million homes and businesses can now access full fibre broadband on the company’s Welsh digital network. 

The research, commissioned by Openreach, also reveals how full fibre could help local economies, creating new jobs, driving social connectivity, and fuelling economic growth.

The new CEBR report has shown the positive economic impact that full fibre could have, adding £66bn to the UK economy by 2029, and creating 620,000 flexible new jobs for parents and older workers returning to work.

Full fibre could also help improve healthcare with a boost to NHS support, adding an estimated five million online appointments by 2029 to help meet rising healthcare demands, while educational benefits could boost to pass rates for 21,700 students in key subjects.

Jo Stevens, Welsh Secretary Jo Stevens said: “The UK Government’s number one priority is to drive economic growth and connecting homes and businesses across Wales is a vital part of this.

“We are investing millions to ensure that every part of Wales has full gigabit coverage as quickly as possible.”

Openreach aims to see its fibre network reach 25 million across the UK by 2026, and as many as 30 million by the end of the decade.