Facebook is expanding its presence in the UK, bringing more opportunities and more bang for the buck for your advertising dollar in this market. According to the social network, it has plans to expand its presence by 50% in the next year. Part of the expansion includes opening new headquarters in London and hiring hundreds of new employees.
Facebook Follows Google
Google had earlier announced that it will be investing over £1 billion and hire 3,000 new people in the UK. Facebook’s announcement comes as another promising business prospect for the Brits. The world’s largest social network will be hiring at least 500 people in the country. It already has over a thousand people in Britain. In the words of the company VP-Europe, Middle East & Africa, UK is amongst the “very best places” for any tech company.
All this means positive news for not only the UK economy, but the businesses targeting this market too. Facebook’s London office was the first engineering office outside the United States. Its sales and marketing team focuses on managing the regional teams and clients. The office in UK was opened back in 2007. Another tech major, Amazon, has also announced increasing its UK operations by adding 2,300 new staff to its existing thousands here.
Presence of Facebook in the UK
Facebook had 30.3 million active users in the UK in 2014. This number increased to 31.2 million in 2015, and 32 million in 2016. The numbers are expected to continue growing at the same rate in the near future. The number of users in the age group 25-35 is expected to grow to 7.4 million in 2017, the highest so far.
According to the 2016 European Digital City Index, London was the number one for start-ups. According to Google, the 3 reasons that inspired it to increase its UK presence are:
- The talent pool available
- The environment for innovation
- The educational institutions of the country
While these moves are encouraging many major corporations, the potential reduction in corporation tax in the country can further attract more companies.
Facebook’s new office is currently being constructed in Fitzrovia. The move by the social network and other tech majors will add to London’s image as a global tech centre.
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