The UK, the internet and the economy – everything you need to know

March 27, 2012 7:41 am

Did you know that the internet contributes to 8.3% of the UK economy? Quite an impressive figure don’t you think? It is even more impressive when you learn that this is the biggest share out of all the G20 countries.

EconomyThe latest study on the UK, the internet, and the effect it has on the economy, has been conducted by the Boston Consulting Group (BCG). If you are a ‘hard fact’ person then look no further. Here are some great facts to show you the exact impact the internet has on the UK economy.

The facts:

  • The internet economy was worth more than £121bn in 2010. This accounts for more than £2,000 per person
  • 2010 saw around 13.5% of all purchases conducted over the internet. This is set to rise by 23% by 2016
  • The UK internet economy is expected to rise by 11%, per year, over the course of the next four years
  • By 2016 it is predicted that it will reach a staggering £221bn
  • SMEs have seen revenues grow by 12.5% per year over the last three years
  • Around 200 million people are going online for the first time, every year

This is testament to the value, importance and significance of the internet and the impact it has on the UK economy. As more businesses continue to sell online, e-commerce is holding more and more power.

Measuring the web economy is certainly helping to give businesses the evidence that they need. When it comes to the facts, you can’t argue. It is there in black and white. The UK web economy is growing, fast.

So if you are looking for proof, look no further!

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