The 4.2 Trillion Dollar Gravy Train
The Boston Consulting Group (BCG), one of the world’s leading research organisations, has published some startling figures about business on the Internet. If the Internet were an economy, its business would be the fifth largest economy in the world, behind only the United States, China, India and Japan. It is no less startling in the UK, where Internet business is already the fifth largest economic sector, already ahead of healthcare, construction and education. But BCG makes clear that this is just the beginning. The UK web economy is growing at 10.9%; well ahead of the 8.1% average for other G20 economies. In 2010, more than 12.5% of all UK retail trade was conducted on the Internet. By 2016 this is expected to grow to 23%. (more…)




