UK is the 'most internet-based major economy'
Posted in: Internet Use/New Technologies at 20/03/2012 20:32
The internet contributes to 8.3% of the UK economy, a bigger share than for any of the other G20 major countries, a new study suggests.
The "internet economy" was worth £121bn in 2010, more than £2,000 per person, researchers at the Boston Consulting Group (BCG) said.
That made it bigger than the healthcare, construction or education sectors.
The UK also carries out far more retail online than any other major economy.
To read this BBC News report in full, see:
UK 'most web-connected economy'
The internet contributes 8.3 per cent to UK GDP, according to a new study - more than any other economy in the G20.
The contribution of the web to the UK was judged to be £121 billion, in the study by Boston Consulting Group. It is forecast to rise to £225 billion by 2016.
Front-running UK pulls in billions from internet
Internet-driven sales, investment and other business are worth £121bn, or more than 8 percent of the total economy, to the UK, according to a report.
E-commerce, online ads, cloud data storage and other internet-related spending contributed £121bn to the UK's gross domestic product in 2010, according to The $4.2 Trillion Opportunity report, published on Monday. The total is likely to rise to £225bn, or 12.4 percent, by 2016 -- a feat that would see the UK keep the top spot, the management consultant firm said.