subject: Search engine optimisation part of UK's £100bn internet economy [print this page] Search engine optimisation part of UK's 100bn internet economy
The UK's digital economy is worth a whopping 100 billion, according to a new landmark report from the Boston Consulting Group (BCG).
BCG's new study, entitled The Connected Kingdom: How the Internet Is Transforming the UK Economy, shows that the internet economy now represents 7.2 per cent of Britain's gross domestic product, outstripping construction transport and utilities in terms of wealth generation.
Not only that, but the internet economy sustains quarter of a million jobs - including a huge number in the search engine optimisation sector.
What's more, small and medium-sized enterprises that pro-actively engage with the latest online technologies and strategies - including search engine marketing - experience more growth and higher international sales, the BCG report states.
Commissioned by Google UK, but compiled independently of the search engine's influence, the Connected Kingdom report shows that the majority of the 100 billion that the internet economy is worth comes from consumption.
Online shopping appears to be the big driver, followed by expenditure on connectivity and then infrastructure investment.
Commenting on the new report, Matt Brittin, managing director for Google in the UK and Ireland, said: "We all know how the Internet has changed the way people access information and communicate. Now for the first time we can see how its adoption by British business has become a major contributor to the UK's GDP, and that the Internet is a central pillar of the UK's economy.
"The sector has come of age, and with great prospects for further growth the UK internet economy, will be vital to the UK's future prosperity."
Paul Zwillenberg, partner with BCG in London, said that the internet is pervasive in the UK economy and as a result, Britain is one of the most technologically advanced online nations.
"Whether they are driving international expansion, improving their interactions with customers or the efficiency of their supply chains, UK companies are increasingly embracing the Internet's potential," he said.
Zwillenberg added: "Several industries - including media, travel, insurance, and fashion - are being transformed by it."
Recently, Efficient Frontier claimed that the search engine optimisation sector is continuing to grow as businesses get more savvy about the internet and its potential for vast returns-on-investment.
