The Internet Economy in the G-20
The $4.2 Trillion Growth Opportunity
The Internet economy in the world's G20 nations will grow by more than 10 percent annually surpassing the size of the German economy at $4.2 trillion by 2016.
As a proliferation of Web-enabled Smartphone’s is expected to help a total of 3 billion people access the Internet by 2016, online retail, banking, advertising, IT services.
In developed markets, the Internet economy will grow at about 8 percent annually, while in developing markets it will grow more than twice as fast.
The UK has retained its position as the largest internet economy in the G-20, according to research by the Boston Consulting Group. The internet is now the UK’s second-biggest economic contributor behind the property sector, having overtaken manufacturing and retail.
By 2016, the Internet economy will be contributing 12.4% of GDP in the UK, compared with a G-20 average of 5.3%.
It has reached a scale and level of impact that no business, industry, or government can ignore. And like any technological phenomenon with its scale and speed, it presents myriad opportunities, which consumers have been quick and enthusiastic to grasp. Businesses, particularly small and medium enterprises (SMEs)—the growth engine of most economies.