Published on the 01/06/2011 | Written by Newsdesk
A new report once and for all dispels the myth that the World Wide Web is destroyer of jobs…
The report, released by consulting group McKinsey for the e-G8 summit, a conference held in Paris this week, says that for every job displaced by the internet, 2.6 more are created.
“[T]he Internet has delivered substantial economic growth and created jobs on a large scale” says the report. “Internet maturity correlates with wealth creation, and we find that the Internet is, and will remain over coming decades, one of the biggest drivers of global economic growth.”
The report also said that 3.4 percent of gross domestic product (GDP) across G8 member countries is a direct result of the internet, and that percentage will continue to rise to 21 percent within the next five years.
Other highlights from the report include the finding that there is a ten percent increase in productivity for small and medium businesses from internet usage, small and medium businesses using the web technologies grow and export up to twice as much as others, and that 75 percent of internet impact arises from traditional industries.
Click here to view the full report
