A recent study by the Boston Consulting Group found that economic activity in the UK centered around the internet reached more than €150 billion during the 2009 calendar year. This amounts to more than seven percent of the nation’s gross domestic product.
In terms of growth, the internet business domain outperformed all other sectors of the economy and outstripped traditionally unshakable construction and transport industries for total economic value.
The study found that, per capita, the United Kingdom is home to the largest ecommerce market in the world, with a greater proportion of people regularly shopping online than in any other nation. It has also proven to be a valuable job creation mechanism, with ecommerce currently employing more than 250,000 Britons.
Given the importance of ecommerce in the United Kingdom, paid advertising and ad webhosting represent another enormous revenue stream, even for offline vendors and retailers. Recent statistics suggest that more than €4 billion is spent online in the UK on advertising alone.
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