
The Guardian reports today that net businesses are worth almost as much as financial sector to UK GDP. The internet is worth £100bn to the UK economy, more than 7% of national income, according to the report.
“The findings come in a report for Google, the internet’s most successful company. The study, by Boston Consulting Group, US consultants, places a value on the UK internet market for the first time.
BCG partner Paul Zwillenberg, one of the report’s authors, said the internet is giving UK companies access to international markets and allowing them to generate “astounding” growth.
“The report finds that British consumers’ willingness to shop online was powering the internet’s expansion. “A lot of it is driven by e-commerce”, Zwillenberg said. “As a proportion of retail sales, [online transactions] are high. The UK is punching above its weight.”
For the full report click here