Ongoing upgrades to Ultrafast Full Fibre broadband across Wales could deliver a £1 billion boost to the Welsh economy by 2029.
New research, commissioned by Openreach, looks ahead to 2029 and highlights how Full Fibre broadband is set to supercharge local economies, creating new jobs, driving social connectivity, and fuelling economic growth.
The new report comes from experts at the Centre for Economics and Business Research (Cebr) and Stantec.
It has been released alongside news that more than a million homes and businesses can now access ultrafast, Full Fibre broadband on Openreach’s Welsh digital network.
Suzanne Rutherford, Director for Wales for Openreach, told Business News Wales about the impact of the rollout of ultrafast broadband.
Laying claim to being the country’s 1 millionth property to have access to Full Fibre broadband is Treorchy’s award winning Lion Hotel.
In addition to being the hub of the community, winning dozens of local and national awards, the Lion Hotel is also used as a focal point for study groups, meetings, co-working and more. Owner Adrian Emmett said that having ultrafast broadband installed had been a ‘game-changer’.
“Since coming out of lockdown, we’ve continued to digitise our business,” he said. “Our music system, tills, CCTV, booking system are now fully digital. But our Wi-Fi often struggles.
“A number of customers use the Lion Hotel as a shared working space but poor Wi-Fi has let them down in the past.
“We’re also continuously looking to improve our offer to customers and have just installed interactive dart systems which rely on reliable internet connectivity.
“Having ultrafast broadband is a game changer. It opens so many doors, not only to us as a business but to communities up and down the country.”
With a TikTok page boasting 127,000 followers generating 260 million views the Lion Hotel is proud of its online following and has plans to develop its social media content even further now that Full Fibre broadband is a reality.
Adrian said:
“As with everything online there’s a growing demand for live streaming – something we’ve not been able to provide in the past. But now with our ultrafast connection the sky’s the limit and we can’t wait to see where it takes the business.”
While improving the ability of creating compelling social media content is a benefit of Openreach’s new Full Fibre network, the new CEBR report has outlined a number of benefits.
They include:
- Economic Impact: Openreach’s Full Fibre rollout could add £66 billion GVA to the UK economy by 2029.
- Job Creation: Flexible work options could help 620,000 individuals, including parents and older workers, return to work.
- NHS Support: An estimated five million online appointments by 2029 to help meet rising healthcare demands, doubling the current number.
- Educational Benefits: A boost to pass rates for 21,700 students in key subjects.
- Increases to Property Values: Homes with Full Fibre see an average increase of £1,900.
- Environmental Gains: By 2029, 1.4 million more home workers will mean fewer car journeys and lower carbon emissions.
“Openreach is already leading the way in transforming digital connectivity across Wales and the rest of the UK,” said Kim Mears, Chair of the Openreach Wales Board.
“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.”
Welcoming the 1 million milestone, 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 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.”
Openreach aims to see its Fibre network reach 25 million across the UK by 2026, and as many as 30 million by the end of the decade, assuming conditions for investment remain supportive.
People can visit the Openreach postcode checker to find out if full fibre is available in their local area, and then contact their broadband provider of choice to upgrade.
The Cebr report is available at openreach.com/about/policy-hub
