The European Interactive Advertising Association (EIAA) has released a report on how we are using the interweb.

According to its research, we are now using the web for much more than simply finding information and keeping in touch with each other.

But on a more general level - the report says 178 million Europeans are online each week and of these, over half (55%) of internet users are online everyday.

Three quarters (75%) are using the internet during their evenings and 51% of Europeans (up 13% from last year) are on the web at the weekends.

But it is time spent online by 25-34 year olds, which the EIAA claims is driving digital growth in 2008. 36% are now heavy users of the Internet, spending an average of 16 hours or more online each week, and almost two thirds (63%) are online daily.

But what are we doing online?

Almost three quarters (73%) of European internet users state that as a result of the Internet they are staying in touch with friends and relatives more, 54% have booked more holidays or made travel arrangements and almost half (46%) are better able to manage their finances.

We are also using the web to research products and get ourselves the best deals, to access health information as well as local government information.