New research by fibre-based internet service provider Hyperoptic claims that poor broadband infrastructure is hindering London’s burgeoning digital economy, compared to other European capitals that are streaking ahead.
The UK capital is now ranked at 26 out of 33 for its broadband speeds, with an average download internet speed reaching 26.3Mbps, which is 10Mbps less compared to the European average of 36.8Mbps.
The top five European capitals broadband speeds are two times faster than London, with Bucharest topping the table with an average speed of 81.2Mbps.
Hyperoptic chairman Boris Ivanovic said: "The UK government has recognised that there is a clear need for speed, which is why back in 2012 it pledged to have the fastest broadband of any major European country by 2015."
"These figures demonstrate that the UK is a long way from that target."
"London has long been recognised as a powerhouse of the UK’s digital economy – after all, the capital houses a vibrant tech community and contributes nearly a quarter of the UK’s overall economic output- but its broadband infrastructure clearly isn’t fit for task, let alone the rest of the UK."
The report also adds that London has dropped four places in the league table over the past five years.
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Ivanovic added: "If the UK wants to maintain its digital leadership there must be a fundamental shift in its urban broadband strategy."
"The government must incentivisethe private sector to fast track the implementation of future-proofed Fibre-to-the-Building and Fibre-to-the Homeinfrastructure across all UK cities and towns."
Another report from Boston Consulting Group projects that UK’s digital economy would reach £225bn by 2016, with the global digital economy currently rising at a rate of over 10% per year.
