Monday, March 19, 2012

Internet ‘economy’ to hit $4.2 trillion by 2016: study

SAN FRANCISCO — Online business is playing an increasingly powerful role in national economies and is projected to account for $4.2 trillion of the Group of 20 nations’ total gross domestic product by the year 2016.
The “Internet economy” will grow at a rate of eight percent annually in developed countries and more than twice that in developing markets, according to a study released on Monday by The Boston Consulting Group (BCG).

India and Argentina will see the fastest growth, with rates expected to be 23 percent and 24 percent respectively, BCG said in a report.

“The Internet economy offers one of the world’s few unfettered growth stories,” said BCG senior partner and report co-author David Dean.
In an array of countries including France, Germany and China small and medium-sized companies (SMEs) that actively engaged consumers online saw sales rates climb much more than did firms with scant Internet presences.
Read the rest at Raw Story
Internet ‘economy’ to hit $4.2 trillion by 2016: study
by Agence France-Press


Ryan Harris said...

There was a good story a couple days ago about how the government built silicon valley. Helps dispel the libertarian innovator mythology surrounding the tech giants and internet startups.

David said...

Growth like this could bring new opportunities and I would be glad if it was true. On the other hand, the same was claimed eleven years ago, just before tech bubble crunch. It is true that technology and society has changed since then but I am still a little bit skeptical.