$8 trillion exchange hands each year through e-commerce [McKinsey Report]
In a paper prepared for the Foreign Commonwealth Office International Cyber Conference, MGI examines what more can be done to fully capture the benefits of the Internet.
- Internet accounted for 21 percent of the GDP growth in mature economies over the past 5 years.
- Two billion people are connected to the Internet.
- Almost $8 trillion exchange hands each year through e-commerce.
- Internet accounts for, on average, 3.4 percent of GDP across the large economies that make up 70 percent of global GDP.
- Internet’s total contribution to global GDP is bigger than the GDP of Spain or Canada, and it is growing faster than the GDP of Brazil.
- Internet has created 2.6 jobs for every one it has destroyed.
- The consumer surplus generated by the Internet in 2009 ranged from $10 billion in France to $64 billion in the United States.