“The internet is the biggest driver of export opportunity you will find over the next decades”
An Internet boom in the UK could open 365,000 new obs within the next five years, with the Internet accounting for a fifth of the regions GDP growth, The Telegraph reports.
Philipp Schindler, London based vice-president of Google in charge for the search-giant operations across the continent said that despite European businesses fighting to remain afloat during a period of economic uncertainty, Internet-based or Internet-related companies that use the web successfully were still growing strongly.
“A study by McKinsey has shown that in France and in a mature economy like the UK, the internet is responsible for a fifth of GDP growth.
In the UK, given the rate of job creation that economists associate with a rise in GDP, this translates into an expectation of hundreds of thousands of new jobs thanks to the internet,” he said.
Businesses across Europe need to understand a series of digital “mega-trends” if they want to be able to reap the full benefits of what the web can bring.. Latest trends include a strong shift to mobile, the adoption of Cloud-based technologies and online media could all help encourage innovation.
Schindler also noted Google’s plans to expand its presence in the UK:
“The UK is our second largest market in the world. In a lot of areas in the UK businesses are defining the online world globally, they are innovation leaders. In terms of investing in the UK, we will obviously continue to invest in the UK – on the engineering side and the business side. We’ve just opened our third office here in Soho, it has a lot of seats.”