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Ecommerce In U.K. Accounts for 7.2% of 2009 GDP, Set To Continue Growth

November 4, 2010: 02:12 AM EST

A study commissioned by Google and conducted by Boston Consulting Group reveals that in the U.K. the Internet industry was worth £100 billion ($139 billion) in 2009, or about 7.2% of the country’s gross domestic product. The study, reportedly the first one to put a monetary value on the U.K.’s Internet market in its entirety, highlights the fundamental strengths of ecommerce in the U.K., which includes online buying by consumers that accounted for £50 billion ($69 billion) in 2009. Aside from showing advertisers the importance of the Internet in all phases of consumers’ life and decision-making, the report also predicts that the Internet will have long-term economic importance for the country, expanding further to account for 10–13% of the U.K.’s GDP by 2015.

Karin von Abrams, Senior Analyst, "UK Shoppers Are Global Leaders in Online Spending per Person", eMarketer, November 04, 2010, © eMarketer Inc
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