Openreach’s ongoing upgrades to its full fibre broadband network could contribute £1 billion in gross value added to the Welsh economy by 2029.
That’s according to a new report by the Centre for Economics and Business Research (CEBR) and Stantec.More than 1 million homes and businesses can now access full fibre broadband on the company’s Welsh digital network.
The research, commissioned by Openreach, also revealed that flexible work options provided by the use of the network could help 620,000 individuals, including parents and older workers, return to work.
In addition, it could enable an estimated five million online appointments to be carried out by 2029 to help meet rising healthcare demands, doubling the current number.
The research also found that broadband could improve pass rates for 21,700 students in key subjects.
The value of homes with full fibre could also increase, on average, by £1,900.
Additionally, the study revealed that, by 2029, 1.4 million more home workers will result in fewer car journeys and lower carbon emissions.
Welsh Secretary, Jo Stevens, said, “The UK government’s number one priority is to drive economic growth and connecting homes and businesses across Wales is a vital part of this. “We are investing millions to ensure that every part of Wales has full gigabit coverage as quickly as possible.
“Reaching a million properties in Wales with Openreach's ultra-fast broadband is a significant milestone and we want to see many more businesses like The Lion enjoy gigabit-capable speeds to boost growth and productivity in all our communities.”
Welsh Government Cabinet Secretary for Economy, Energy and Planning, Rebecca Evans, said, “I’d like to congratulate Openreach on hitting the one million properties milestone. I am delighted that homes and businesses across Wales, such as the Lion Hotel, are benefitting.“The Welsh Government, through our Digital Strategy for Wales, is committed to working with the telecommunications industry to deliver the fixed and wireless connectivity services that businesses, the public sector, and homes in Wales need to thrive.”
Suzanne Rutherford, complex engineering Wales, Openreach, said, "Openreach is already leading the way in transforming digital connectivity across Wales and the rest of the UK.
"With Full Fibre now available to 1million Welsh homes and businesses, we’re excited about the projected impact this work and our future build will have on local communities, as highlighted in the new report.
"By equipping residents and businesses with fast, reliable broadband, we’re not just upgrading internet speeds—we’re laying the groundwork for economic growth, job creation, and increased opportunities for remote work, digital learning, and innovative healthcare access."