A recent study has estimated that the Internet is worth a £100 billion a year to the UK economy.
Google who commissioned the report, determined that the Internet accounts for 7.2% of the UK’s Gross Domestic Product (GDP).
If the Internet was an economic sector it would be larger then the construction, transport and utility industries.
The figures illuminate the power of the Internet.
60% of the 100billion is made from Internet consumption, such as users online buying. The change in spending habits has been more vigorous then one could anticipate says Alex James, an Internet marketing tycoon.
The report from google argued that the Internets contribution to the GDP is set to grow at 10% annually and by 2015 it should account for 10% of the total GDP.
According to the report the UK is the leading nation for e commerce. For every £1 spent on line to import goods, £2.08 is exported.
Small companies who; actively use the Internet, have a strong Internet presence through google rankings, report sales which are four times greater then that of companies with less Internet impact.
Paul Zwillenberg from the Boston Consulting Group said of the Internet, “The Internet is pervasive in the UK economy today, more so than in most advanced countries,”
“Several industries – including media, travel, insurance and fashion – are being transformed by it.” He concluded.
Creativeideaz, having worked with travel, insurance and fashion companies first hand, know it has become imperative how important their Internet presence reflect the success of their company.
Whilst the Internet continues to be a central force behind the UK’s economy, Search Engine Optimisation is crucial to the growth of a small business.
