Photo: Kai Kuusisto 02.2 Tech: The Motor for GDP Growth The European tech (software) industry contributes around $400 billion to the European economy today, though it remains just a fraction of total European The European tech (software) industry contributes around $400 billion to the European economy today, though it Gross Value Added, accounting for just 2.5% of total European GVA remains just a fraction of total European Gross Value Added, accounting for just 2.5% of total European GVA Tech industry contribution to the European 400.0 economy by total Gross Value Added ($B) and $376.0B % of total (2002-2016) 2.4 $335.0B 300.0 $300.0B ) T LEGEND B $2.1B e $ $264.0B $263.0B c ( 2.2 h Tech d a e $2.0B s d $234.0B d % A Tech as % of total GVA $208.0B o e f u $194.0B t l 200.0 $1.9B o a t V a 2.0 l s s $1.9B G o V r A G $1.8B $1.8B $1.8B 100.0 1.8 0.0 1.6 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Note: 2016 is the most recent year for which full NACE breakdowns of Source: Eurostat European GVA are available. Tech refers to the European Eurostat software industry, or NACE J62-63 At ~$400 bllion, Europe’s software industry ECONOMIC GROWTH is still just a fraction of overall European Gross Value Added Latest data shows Europe’s software %industry accounts for 2.5% of total 2.5 Gross Value Added in Europe, up from 1.9% 10 years ago Eurostat & 19 In Partnership with www.thestateofeuropeantech.com