UK Net Manage To Buy 'worth Billions'

The internet is value 100bn a year to the UK economy, a investigate has concluded.

The research, that was consecrated by Google, found that the internet accounts for 7.2% of the UK's sum made at home product (GDP).

If the internet was an mercantile zone it would be the UK's fifth largest, mentioned the inform from the Boston Consulting Group (BCG).

This would make the zone incomparable than the construction, ride and utilities industries.

Central pillar

Some 60% of the 100bn a year figure is made up from internet expenditure - the amount that users outlay on online selling and on the cost of their connectors and gadgets to access the web.

The rest comes from investment in the UK's internet infrastructure, supervision IT spending and net exports.

The report, The Connected Kingdom: How the internet is transforming the UK , says that the internet's grant to GDP is set to blossom by about 10% annually, reaching 10% of GDP by 2015.

The UK, according to the report, is the world's heading republic for e-commerce. For every 1 outlayed online to import goods, 2.80 is exported.

"This is the conflicting of the direction seen in the offline economy, that exports 90p for every 1 imported," the inform says.

Internet companies fool around a key purpose in practice with an estimated 250,000 staff, the inform finds.

Small businesses that actively use the internet inform sales expansion more than 4 times greater than that of reduction active companies.

The inform moreover attempts to compare the UK to other countries in the Organisation for Economic Co-operation and Development (OECD).

Under its scoring system, the UK ranks sixth, on top of Germany, the US and France. The highest ranked country is Denmark.

"The internet is pervasive in the UK manage to buy today, more so than in many modernized countries," mentioned Paul Zwillenberg, associate with BCG.

"Several industries - inclusive media, travel, insurance and conform - are being remade by it."

Matt Brittin, handling executive of Google UK, said: "The internet is a middle post of the UK's economy.

"The zone has advance of age, and with great prospects for serve expansion the UK internet manage to buy will be key to the UK's future prosperity," he added.