Figures recently released by Google have shown that the UK’s internet economy is in excellent shape, reportedly worth £100 billion per year, and making up 7.2% of the UK’s gross domestic product (GDP). Despite all the doom and gloom of budget cuts and very limited economic growth throughout the country, internet business is flourishing, so much so that if the internet were an economic sector in itself it would be the fifth largest in the country, beating giants such as construction, transport and utilities!
According to the ‘Connected Kingdom’ report from Google, the internet is also set to continue to get stronger, growing by around 10% annually and making up 10% of the UK’s overall GDP by 2015. This, along with the fact that the internet sector plays a vital role in employment, employing 250,000 people (4 of them here at dijitul!) is further proof that the internet is still growing and taking over the world!
60% of all of this money in the industry comes from internet consumption, a mix of connection costs and money spent online shopping. Infact the UK is now the worlds number 1 country for eCommerce! For every £1 spent on imports, £2.80 is exported, strongly beating offline economy where 90p of every £1 is exported.
As an internet company, specialising in web design and eCommerce, this news is very welcome here at dijitul, and we will be making sure to get our hands on our slice of this very tasty, growing, internet pie!