Tuesday, November 08, 2011
EVER WONDERED WHAT THE INTERNET ECONOMY IS?
McKinsey estimates that the 200 million-person global economy has reached $8-trillion. The report is limited to the G-8 countries plus Brazil, China, India and South Korea.
· Private consumption refers to, electronic equipment, e-commerce, broadband subscriptions, mobile internet and hardware and software consumption
· Private investment refers to, from telecommunications industry and maintenance of extranet, intranet and websites
· Public expenditure refers to, government buying and spending of hardware and services
· Trade refers to, exports of internet equipment and b-2-b services with overseas companies
The internet contributes more to the economy than mining, utilities, agriculture or education. In France since the mid-1990’s, McKinsey states that the internet created twice the number of jobs that it destroyed. World leader of the online industry is the United States with 30% of global internet revenues, but the UK is the world leader in online retail sales. China’s and India’s internet economies rely on exporting online services for most of their economies.
NOTE THAT REAL ESTATE HAS THE GREATEST WEIGHT IN THE GDP....