The Internet Now Contributes 10% of UK GDP

THE INTERNET NOW CONTRIBUTES 10 PERCENT OF GDP TO THE UK ECONOMY, SURPASSING THE MANUFACTURING AND RETAIL SECTORS

GDP (Gross Domestic Product) is said to be an indicator used to measure the health of a country’s economy. It is the total money value of all goods and services produced over a specific period of time.

Among the G20 countries, the United Kingdom internet economy is has been recorded to be the largest as a proportion of GDP. The UK digital economy includes “Internet-related government spending, sales of internet related devices, online retailing, IT and telecommunication investments. The internet is known to be UK’s second largest contributor, surpassing both the manufacturing and retail sectors, at 10% of Gross Domestic Product which is a larger percentage compared to other G20 countries.

In over two decades, the Internet as you know it has evolved from a network for scientists and geeks to an everyday reality for billions of people. And while the Internet’s influence has also eliminated some jobs, it creates about 2.7 jobs for every one destroyed. It’s been recorded that Companies using the Internet with high intensity grow twice as rapidly as low-intensity Web companies, trade twice as much as they do, and generate more than twice as many jobs.

Did you know that there are over two billion internet users in the world? And most these internet users review product information before purchase. This is part of the reasons why you should take your business to the next level; online marketing. It doesn’t matter if your business is large or small when your company comes up on one of the popular searches; you will get the opportunity to connect with real potential and existing customers. This is what makes online presence very essential in any business. An online presence can take any form; Social media, Emailing, Website etc.

With the world going online, having a website for your business becomes essential if you really plan on keeping up with your competitors. This advancement gives your clients access to extensive information and also gives them the chance to leave their feedbacks about a product. When establishing a website for your business, you could either do it yourself or employ a company to do it for you, either way, the website should portray professionalism and made simple so a client could easily access it.

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