The Internet is contributing more to the American economy than the entire federal government, according to a new study by the Boston Consulting Group.
The Internet accounted for $684 billion, or 4.7% of all U.S. economic activity in 2010, according to latest report released by Boston Consulting Group. The Internet economy in the U.K. accounted for the highest percentage of national GDP in 2010, followed by South Korea (7.3 percent) and China (5.5 percent). In each of these three countries, the Internet economy would rank among the top six industry sectors. At 4.7 percent, the 2010 share of U.S. GDP contributed by the Internet was about the same as the share contributed by the federal government — and ranked slightly ahead of the developed markets' average share of 4.3 percent.
Related topics: Web
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Minds + Machines