UK internet is worth £100 billion a year

If the Internet was a categorised UK economic sector, it would be the fifth largest in the UK - that's according to a report, The Connected Kingdom, that was commissioned by Google.

The research showed that the Internet was worth $100 billion a year to the UK's economy - more than construction, transport and utilities.

60 per cent of this $100 billion figure comes from online shopping and the money paid to ISPs to get online.

We are also the world's leading nation for e-commerce, with £2.80 coming in for every £1 going out on web-sold goods.

"The internet is pervasive in the UK economy today, more so than in most advanced countries", said Paul Zwillenberg, partner with BCG.

"Several industries - including media, travel, insurance and fashion - are being transformed by it".

Matt Brittin, managing director of Google UK, said: "The internet is a central pillar of the UK's economy.

"The sector has come of age, and with great prospects for further growth the UK internet economy will be vital to the UK's future prosperity".

The times they are a changing. Go tell your nan.



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