RSS LinkedIn Google Plus

Call us: 0800 014 9884

UK has the 6th largest internet economy

UK_has_6th_largest_internet_economy_6131

UK 6th in the world

A report commissioned by Google has revealed that the UK’s internet economy is worth £100 billion. The Connected Kingdom was conducted by Boston Consulting Group, and concluded that the UK has the 6th largest internet economy in the world.

Consumption accounted for £59 billion of the total, including online trading and shopping, and the cost of connections and devices. The rest of the £100 billion is made up of investment in the internet infrastructure and government spending. The grand total puts the internet ahead of the transport, tourism and construction industries in terms of value.

Research also revealed that the internet accounts for 7.2 per cent of the UK’s GDP in 2009, but this is set to rise. The report estimates that the industry’s share of the economy will increase by around ten per cent each year, reaching a GDP of ten per cent by 2015. Internet businesses directly employ 250,000 people in the UK, and see annual revenues of around £50 billion.

B2B not included

However, the report added that “since many of these companies sell to other businesses, this amount is not comparable to our GDP calculation”. B2B e-commerce and online advertising are therefore not included in the final figures; the report reveals that B2B transactions totalled £360 billion in 2008, and online marketing was worth £3.5 billion in 2009.

BCG partner Paul Zwillenberg told the BBC, “Several industries – including media, travel, insurance and fashion – are being transformed”. The positive effect of the internet and online advertising on the commercial and offline economy is discussed in the report, but unfortunately cannot be measured.

Written by rachel_hand_swapRachel Hand

Testimonials

"theEword are scrupulously honest and hardworking"

~ Britannia Living ~

  Britannia Living

"theEword consistently go above and beyond"

~ Merlin Entertainments ~

  Merlin Entertainments

"They are so creative, they come up with so many fantastic ideas"

~ Manchester Law Society ~

  Manchester Law Society

"They really care about what they do and they care about your business as well"

~ Bermans ~

  Bermans

View more of our testimonials »

Google to devalue doorway pages Tuesday 17th of March, 2015by Andy Williams Google is taking aim at websites using large, well-established doorway campaigns to rank highly in search results by altering its search engine algorithm.

More on this story »

Google: mobile algorithm bigger than Panda and Penguin Wednesday 18th of March, 2015by Dan Moores At SMX Munich, a Google representative said that the upcoming "mobile-friendliness" algorithm will have a bigger impact on search results than the Panda or Penguin updates.

More on this story »

Yahoo urges Firefox users to switch from Google Wednesday 25th of March, 2015by Dan Moores Firefox users who have manually set Google as their default search engine are now confronted with the following message: "Yahoo is the preferred search engine for Firefox. Switch now."

More on this story »
theEword - 5 mins ago

Experienced in #digitalmarketing? Grow your career as our Client Strategy Director > http://t.co/My4HS5vyvq http://t.co/sclpAp4zAL

Reply Retweet Favourite
theEword - 6 hours ago

Here’s our Official UK Midweek Top 10 digital marketing rundown > http://t.co/gKxbBbu0xR http://t.co/go1Iiu3ZjA

Reply Retweet Favourite
theEword - 7 hours ago

What's it like behind the scenes at theEword? Follow us on Instagram to find out > http://t.co/KlFoK3v8Eu http://t.co/SIaU0RFGS7

Reply Retweet Favourite
theEword - 13 hours ago

"81% B2B purchase cycles start with online search" - make sure you're the company they find http://t.co/15szr5BYJV #proman #digitalmarketing

Reply Retweet Favourite
theEword - 1 day ago

‘Don’t wanna let you go’ and write bad content. Here are 5 tips for a ‘slam dunk’ > http://t.co/Y4eJr3lkhT http://t.co/ZSYRotePFy

Reply Retweet Favourite

5 common digital marketing myths dismissed Friday 6th of March, 2015by Andy Williams Find out the real purpose behind onsite content and why link building is still vital. Here we explain the five biggest myths that surround digital marketing.

More on this story »

Content and the Customer: the journey Friday 6th of March, 2015by Sian English From acquisition to conversion, content plays a vital role. But have you given much thought to how that role evolves during the customer's journey? Here are the different stages your customers go through with your content.

More on this story »

Light a Fire with Hems de Winter Thursday 19th of March, 2015by Andy Williams Hems de Winter, CEO of de Winter PR, joined Light a Fire for an in-depth chat at BoConcept’s showroom on Great Ancoats Street, discussing his life and career.

More on this story »

Who loves theEword

Who loves theEword Who loves theEword