The Internet Is Worth £100Billion a Year to the UK

New research commissioned by Google suggests that the internet is worth around £100billion to the UK, which accounts for 7.2% of the UK’s Gross Domestic Profit (GDP). If the internet was a sector, this would make it more valuable than the construction, transport and utilities industries.

The UK the Leading Nation for E-Commerce

The report, The Connected Kingdom: How the Internet is Transforming the UK, goes on to show that this £100billion market is growing at 10% a year and employs over 250,000 people.

Furthermore, it shows that 73% of UK homes have broadband internet, demonstrating the growing importance of it and the importance of it to businesses. With 60% of the £100billion a year spent on online shopping and buying devices for the internet, it shows the immense value for businesses.

Many small businesses directly engaged with the internet report sales growth that is four times higher than those businesses not as active online. Plus, the UK is the leading nation for e-commerce, with every £1 spent on imports, £2.80 received for exports.

This should demonstrate the value of the internet to businesses of all sizes and how, by having a successful online presence, it can improve overall performance.