The World’s 5th Largest Economy in 2016: The Internet

internet 150x150 The Worlds 5th Largest Economy in 2016: The InternetThe United States, China, Japan and India are the only countries whose gross domestic products in 2016 would be larger than that of the Internet (if it was a country). According to the Silicon Valley/San Jose Business Journal, Boston Consulting Group’s new report used the Internet use in the world’s 20 biggest economies to make their GDP conclusion.

The U.S.’s own GDP in 2010 can attribute 4.7% to the Internet, compared to 4.3% to federal government spending. The report also found that about 60% of Americans would choose to give up coffee and 21% would give up sex for a year rather than the Internet.

In 2010 the Internet had 1.9 billion users, but is expected to rise to 3 billion users by 2016. The report reminds readers that no other economic development since the Industrial Revolution has provided the breadth of value and wealth that the Internet brings to consumers and citizens.

To read more about the report findings :http://www.bizjournals.com/sanjose/news/2012/03/20/internet-to-be-worlds-5th-biggest.html

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About Meaghan Powers

I am currently a Marketing Communications Intern for the Council of Better Business Bureaus in Arlington, VA. I am originally from Massachusetts and currently a student at the George Washington University School of Business. In my spare time, I enjoy exploring all that DC has to offer and finding fun, new baking recipes to make!