UK’s internet industry worth £100bn
(The Guardian): The internet is worth £100bn to the UK economy, more than 7% of national income, according to a report out today. If it were an industry in its own right, the internet would be more than twice as large as the UK hotel and restaurant market and nearly as big as the financial services sector, which accounted for 9% of GDP in 2009, the study says. The findings come in a report for Google, the internet’s most successful company. The study, by Boston Consulting Group, US consultants, places a value on the UK internet market for the first time. BCG partner Paul Zwillenberg, one of the report’s authors, said the internet is giving UK companies access to international markets and allowing them to generate "astounding" growth. The report finds that British consumers’ willingness to shop online was powering the internet’s expansion.
Category: Business
