Published on October 1st, 2012 | by Steven Hodson0
New Study Says The Internet “Ecosystem” Is 3.7% Of The US Economy
In a new study, “Economic Value of the Advertising-Supported Internet Ecosystem”, that was commissioned by the Interactive Advertising Bureau (IAB) and presented at the recent IAB conference we are told that the Internet amounted to 3.7 percent of the U.S. gross domestic product (GDP) in 2011, which is up from 2.1 percent from four years ago.
Some of the other details to come out in the study are:
- New York and California are home to the headquarters of the largest number of US internet firms
- Over 375,000 jobs that are supported by the Internet are in one person firms and small businesses
- App development accounts for 35,000 full-time equivalent jobs
- The biggest increase in Internet related jobs was within the infrastructure and consumer support services
- Digital industries directly employ 2 million Americans
- 3.1 million jobs are supported indirectly by online activity
“The rapid growth of the ad-supported Internet has become a major driver in the US economy,” said Randall Rothenberg, president and chief executive of the IAB.
“With encouragement from regulators and legislators in Washington, DC and other world capitals, there is no doubt that the interactive marketplace will bring an even greater number of jobs into the fold—not only in America, but across the globe—providing strong economic value in the years to come.”