Peach Report

Web captures more of UK market

19 March, 2012

The UK is the most internet-dependent economy of all major nations according to a new study, the BBC reports. Figures from the Boston Consulting Group said the internet economy was worth £121bn in 2010 - 8.3% of the UK’s economy.

That is equivalent to more than £2,000 per person and bigger than the healthcare, construction or education sectors. The UK’s figures are higher than any other nation in the G20.

The figures confirm the importance of the internet for all businesses now—even ones that pubs and restaurants that do not generate much money directly from the web. The researchers predicted that the internet economy would only grow—to account for an estimated 23% of all purchases by volume by 2016, compared to 13.5% now. By value, the web economy will be worth £221bn by 2016.

For the full story, see UK is the ‘most internet-based major economy