The UK's 'internet economy' accounts for 8.3% of GDP

Stat of the day: 121bn. The amount generated for the UK economy by internet businesses. That's more than £2,000 per person.

by Rebecca Burn-Callander
Last Updated: 09 Oct 2013

Good news for internet firms: the UK's love affair with the web is still going strong.

New research by the Boston Consulting Group (BCG) shows that the UK is clicks ahead of the other G20 countries in the e-commerce stakes. Some 13.5% of all purchases were bought over the net in 2010, compared to 5.4% in the US and 6.9% in China. And the internet economy is now bigger than healthcare, construction, or education in the UK.

The market share of internet companies is still growing, too: it will expand by 11% per annum for the next four years, hitting 23% of all purchases by 2016. And there's some serious money to be made these days. Online revenues grew by 12.5% each year in the last three years as people became comfortable buying big-ticket items. By 2016, online revenues will generate £221bn for the UK economy.

So, if you haven't yet invested in a web presence for your brand, you could be missing out on one hell of a cash cow.

 

 

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