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How does the British economy benefit from the Internet

How do you measure the effects of the internet on the economy? This is a difficult question to answer. The main reason for the difficulty is that the effects of the internet range from the highflying entrepreneurs making a killing in the city, to someone checking an email on their phone. How do you measure such a range of effects?

One way the Office for National Statistics (ONS) deal with this by breaking down the economic activity of the country into categories. The economic effects of the internet are largely included under the categories of "communications" and "business services", and then to a lesser extent in other categories.

You can see that this classification makes it difficult to isolate the value the internet to the UK economy.

However the ONS also have some great research on internet commerce and internet access and social trends brought about by the internet.

Today the Boston Consultancy Group (BCG) funded by Google UK, have brought together a number of the ONS data sources mentioned above and data from the consulting firm Sanford C. Berstein, and produced a report on the economic value of the internet.

The approach they have gone for is to classify the effects of the internet into levels of influence. The first, and easiest to measure, influence is digital transactions, for example internet downloads and online purchases. The least influential level includes the social effects of the internet, these are not easy to measure.

One of the key conclusions of the BCG report is the estimate that, in 2009, the internet business made £100 billion in the UK. That is 7.2 % of the 2009 GDP.

We have extracted the data from the charts in the BCG report, and have a sheet of all the publicly available data sources used in the report, so you can look at the figures in a useable format.

Source:http://www.guardian.co.uk