The Knowledge Economy is the fastest growing part of the UK economy. It is expected that by 2010 the Knowledge Economy will contribute 50 per cent of UK Gross Domestic Product (GDP).

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The way ahead for UK plc

In less than three years time, more than half of UK GDP will be generated by people who create ’something from nothing’, according to the 2007 Developing the Future report.

The report, commissioned by Microsoft and co-sponsored by Intellect, the British Computer Society (BCS) and The City University, London, sets out the key challenges facing the UK as it evolves into a fully-fledged knowledge-based economy.

The report also sets out a clear agenda for action to ensure the UK maintains its global competitiveness in the face of serious challenges - namely that at current rates of growth, China will overtake the UK in five years in the Knowledge Economy sector.