How Big the Internet Economy Really Is

The McKinsey Global Institute finds that internet business accounted for $1.67 trillion dollars of global gross domestic product (GDP) in 2009, larger than the economies of Spain or Canada that year. The researchers estimate that e-commerce is now 3.4% of economic activity in the countries they studied. Two billion people us the internet to exchange eight trillion dollars a year. An estimated 2.6 jobs are created for every job destroyed. Altogether, the internet accounts for 11% of the GDP of the countries the researchers studied, including the G8, Brazil, China, India, South Korea and Sweden.

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Internet economy: Bigger than Canada