As
the world enters the information age, and the Internet continues to assimilate
into the everyday lives of billions of people, the question begs: how impactful
is the Internet to the economy?
The Economist has released a graph based on a recent report from the
Boston Consulting Group (BCG) detailing the Internet’s contribution to the
economies of the G20 countries.
The Internet economy in Britain is now larger than its construction and
education sectors, comprising over 8% of GDP and forecasted to amount to over
12% by 2016. BCG predicts that the
Internet economy will grow at more than 10% annually, and by 2016, will
comprise 5.3% of GDP in the G20 nations.
BCG also notes that as of now, the European Union has not capitalized on
Internet revenues due to a lack of a single, all-encompassing digital market.
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