The UK’s underwater industry has a potential to grow to £45 billion by 2035. Hence, the potential growth is likely to create an estimated 180,000 new jobs. Moreover, the expansion will also have a positive impact on UK’s exports and may add £20 million in terms of exports. Newly launched Global Underwater Hub said in a statement.
Launch of Global Underwater Hub
Global Underwater Hub was officially launched yesterday at a Subsea Expo event in Aberdeen. It is aiming to transform the industry into one that will deliver thousands of jobs and help with the green recovery. Although backed by the Scottish and UK governments with £13m in funding, GUH will support growth in exports in line with net zero targets. The UK’s underwater industry is currently valued at £8bn and have a potential to grow further.
A recent survey of the sector by the GUH revealed that almost 90% of subsea companies expect to recruit in the next 12 months. The long-term outlook is already suggesting an additional 8,000 jobs over the next three years. “The exponential growth of the blue economy presents an unprecedented scale of opportunity on which the UK’s world-renowned underwater industry can capitalize.” Neil Gordon, chief executive of the GUH expressed is views.
GUH will deliver a step-change in the development and internationalization of underwater technologies and services. Therefore, they intend to harness, promote and support all sectors of the industry. Promoting greater cross-sector collaboration will fast-track service and technological innovation. Hence, it will solve challenges in multiple underwater sectors, the GUH said.
GUH looking to expand their base
Currently, Global Underwater Hub have an employment base of 15 employees in Aberdeen. They intend to reach around 30 in total across the organization. Moreover, they are planning to launch two more hubs in South and North of England over the next 12 months. Their aim is to ensure that specialist, sector-specific support is available in across the whole country.
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