The G-20’s Internet Economy Is Set to Reach $4.2 Trillion by 2016

The Internet economy of the G-20 is projected to reach $4.2 trillion in 2016 — nearly double the size it was in 2010 — providing companies and countries with a vital source of growth as they battle to thrive in an era of uncertainty, according to The Boston Consulting Group (BCG).

The biggest driver is the dramatic increase in the number of users around the globe — from 1.9 billion users in 2010 to a projected 3 billion users in 2016, about 45 percent of the world’s population. The rise of the emerging markets, the popularity of mobile devices, especially smart phones, and the growth of social media are also compounding the economic impact of the Internet.

In The Digital Manifesto: How Companies and Countries Can Win in the Digital Economy, BCG makes the case that businesses will be fundamentally transformed over the next five years. It also urges action by companies and countries, recommending the creation of a “digital balance sheet” and offering an agenda for chief executives and policymakers to build their digital advantage. The Digital Manifesto, the latest in a series of BCG reports on the rise of the Internet, was launched today during the Annual Conference of the World Economic Forum at a discussion cohosted by BCG and Google.

“No company or country can afford to ignore this development. Every business needs to go digital,” said David Dean, a coauthor of the report and a senior partner at BCG. “The ‘new’ Internet is no longer largely Western, accessed from your PC. It is now global, ubiquitous, and participatory.”

Source: CSR Africa.Net – 27 Jan 2012