01/11/2010
The internet boosts the British economy by 100 billion every year, according to analysts.
That's more than the construction industry, claims The Sun, which has been credited with boosting the economy over the past quarter.
What's more, the report claims that internet industries will grow from contributing to 7.2 per cent of the country's GDP to 10 per cent by 2015. That's the same amount the financial sector nets.
The report for Google found that the number of e-exports are rising too; for every 1 imported, Britain sends 2.80 worth of e-commerce abroad.
"The internet is pervasive in the UK economy today, more so than in most advanced countries," said Paul Zwillenberg who was involved with the report. "Several industries - including media, travel, insurance and fashion - are being transformed by it."
The news highlights just how important the internet is for boosting business. Through sales finance and other cash-generation methods, companies would see their business grow by embracing the internet in their business activity. Whether it's creating a website, advertising online or focusing on search engine optimisation to boost online orders and enquiries, the internet is an effective way to reach potential clients.
"We all know how the internet has changed the way people access information and communicate," explained Matt Britting, UK managing director for Google. "Now for the first time we can see how its adoption by British businesses has become a major contributor to the UK's GDP, and that the internet is the central pillar of the UK's economy."
Laura Nineham