The Internet Economy
It wasn’t that long ago that web sites were strictly for geek’s-men and women who spent their days living in the virtual world of the W3. But things change quickly on the world wide web and today, anyone can build a web site-and many do for very good reason… because it can be profitable.
The economic activity of the Internet is larger than the entire economies of Spain or Canada.
A group of researchers is trying to put a value on the Internet’s contribution to the global economy-and they think it’s larger than the entire economies of Canada or Spain. McKinsey Global Institute released a study that claims the Internet accounts for approximately 3.4% of economic activity in 13 of the world’s largest countries. The study found that in 2009, the Internet contributed about $1.67 trillion to global gross domestic product. That inches just slightly past the entire GDP of Canada, which came in at $1.34 trillion that same year, and the $1.46 trillion economy of Spain.
It is estimated that 2 billion people now use the Internet and that Internet users exchange $8 trillion each year through e-commerce.
Global Gross Domestic Product of the Internet
“In two decades, the Internet has changed from a network for researchers and geek’s to a day-to-day reality for billions of people,” the study said. And while the Internet’s impact has also killed some jobs, it creates about 2.6 jobs for every one destroyed, McKinsey said.
Companies using the Internet with high intensity grow twice as quickly as low-intensity Web companies, export twice as much as they do, and create more than twice as many jobs.
The competition on the Internet is fierce.
If you’re just starting out in the world of e-commerce, welcome to the shark tank. The world wide web (W3) is the fastest growing, most competitive and most exciting marketplace in the history of buying and selling. The world wide web is also the place entrepreneurs have the opportunity to actually build a successful business for just a few bucks. The W3 has changed everything, which is why you’re thinking of diving in.
This is your marketplace and it’s “raw-meat” fierce on line. So, if you don’t yet have a web site, get ready for the ride of your life! There are close to 130 million web sites on line at the moment and every day, 6,000 new web sites launch, creating entrepreneurs by the thousands. The world wide web is a great way to take control of your professional life (you’re the boss) or to add a few bucks to your household income each month while you keep your day job.
The Internet is strongly contributing to wealth.
The reach of the Internet is big and continues to grow each year.
The Internet is still in its infancy, and there is tremendous room for continued growth. In advanced countries such as Sweden and the U. K., the Internet accounts for roughly 6% of GDP but in 9 of the 13 countries, its contribution is below 4% leaving room for still more growth in e-commerce within those economies.
The Internet is a critical element of growth. In mature countries, the Internet accounted for nearly 10% of GDP growth over the past fifteen years while over the past five years, the Internet contributed to 21% of GDP growth.
The maturity of the Internet correlates to rising levels in the standard of living.
The Internet is a job creator. Although the Internet has destroyed some jobs, it is calculated that for every one job destroyed by the Internet, 2.6 jobs is created by the W3.
The Internet leads to modernization of traditional activities.
The Internet generates remarkable consumer surplus and substantial value for users.
Where to start?
You know them, you love them, you use them every day. Search engines: Google, Yahoo, Ask, Bing, or if you’re in China, Baidu. Search engines are the address books of the world wide web. Yes, we all know that. But if you do not yet have a web site, you may be wondering where to start. Well, if you don’t know anything about the world wide web, that’s the place to start. How does it work? How do you connect to it? How do search engines, like Google, rank your site on search engine results pages (SERPs), for instance? This blog article explains in great detail the top 10 tips for website launch.
Leverage the power of the Internet
Armed with this important data, business leaders should put the Internet at the top of their tactical agenda. Given the fact that many businesses face competitors who have already capitalized on the power of the Internet, business leaders should constantly try to identify up-and-coming Internet trends in an effort to increase the impact of their business goals.
The Internet appears to be everywhere, in our daily lives, in our purchasing decisions, in our planning and decision making, yet until recently the economic impact of the Internet has been somewhat unclear. The Internet has become a substantial factor in the growth of businesses, brands, national economies, and even the global economy itself. As business owners carry on through the aftermath of the economic meltdown, they must not lose sight of the long term objectives that could very well safeguard their economic health-a strong Internet presence.
Ms. Rosendahl has over 19 years experience in systems analysis, hosted applications, and management as well as 13 years experience in web hosting and Internet marketing. Ms. Rosendahl has a Bachelors from Houston Baptist University with a double major in Computer Information Systems and Business Management. Stephanie is the founder and CEO of website hosting firm – GreenHostIt.com green hosting.
