The Internet Economy

 The ‘Internet ‘Economy’ is said to contribute almost as much to the UK economy as financial services, according to the Boston Consulting Group.
2010 figures put the ‘internet economy’ as contributing 8.3% of  UK GDP, and the financial services sector as contributing 9 % of GDP.
It would be reasonable to assume that financial services have shrunk since 2010. The internet sector, however, is expected to grow to 12.4% of UK GDP by 2015.
Boston Consulting say the UK internet sector was worth $187 billion in 2010, and will be worth $347 billion by 2016.
So far so good. The figures suggest a plethora of tech start-ups, rampant entrepreneurs pursuing breakthrough technologies and a host of mini-Googles and Zuckerbergs.
Unfortunately that would be misleading.
The term ‘internet economy’ apparently includes stuff like on-line shopping.
Tags: shopping

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2 Comments

  1. david manners
    May 21, 2013 15:01

    Yes indeed, Terry and did you read what Senator McCain said about Apple as reported today? I think maybe the times are a’changing and Big Government is coming back to give Big Business a kicking for aggressive tax evasion.

  2. Terry
    May 21, 2013 11:11

    That’s all nice, now all we have to do is get them to pay their taxes.

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