The British telecoms industry sees the next ten years as a period of solid growth for the UK, sustained by foreign investment into the country. This is according to the ‘Business in 2021’ research announced today by Barclays Corporate. Telecoms companies are not planning to exit the country either, with the majority seeing the UK as competitive market in which to operate in 2021.
The research, in which 660 UK business leaders were surveyed on the conditions they expect their firms to face in a decade, found that 56% of telecoms companies envisage steady and sustained growth over the coming ten years.
However, they expect this growth will originate from foreign investment into the UK, with 76% of respondents expecting more foreign ownership of British businesses and assets by 2021.
This expected growth means that UK telecoms companies are backing the country as a better place to conduct business in 2021, with 62% of respondents seeing the UK as a place to continue to work.
Growth will also be supported by export sales to the US and Canada; 65% of respondents stating that the region will provide the most fertile ground for UK exports.