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30/06/2011

RESEARCH

The internet is worth £100bn annually to the UK economy, comprising 7.2% of the gross domestic product, which is expected to reach 10% within five years, according to a survey commissioned by Google.

The share is also likely to grow to 10% by 2015, putting the internet's contribution on a par with the financial sector.

60% of the £100bn came from ‘internet consumption’ - via online shopping and the cost of devices and connections to access the internet.
The report also found that 250,000 people are employed by e-commerce companies in the UK. Among the other findings, 31 million adults bought goods or services online in the past year, or 62% of all adults. Collectively, they spent about £50 billion last year on goods and travel.

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