The UK2 Blog

Jan4

Just Who Is The Top Internet-based G20 Country In The World Today?

Internet G20

The Group of 20 (G20), a forum of finance ministers from 19 prominent countries as well as the European Union, was formed in 1999. The purpose of the forum was to broaden the dialogue between countries on key economic and financial policy issues. Since the Internet accounts for one of the largest economies in the world with a revenue of over $8 trillion per year, it is often an important top for discussion. A subject of great concern for these audiences is the projected growth of the Internet internationally and in which countries this growth will predominantly occur.

The Internet Economy

The Internet economy has accounted for the highest percentage of National Gross Domestic Product (GDP) in the UK followed by South Korea with 8.3% and China with 5.5% and in each of these countries the Internet ranks among the top six industry sectors for the country it is in.

Hard as it may be to believe, the United States is already falling behind in Internet use and consumer buying. In 2012 the US came in second to Sweden, listed as being the country where consumers used the Internet the most, followed by the UK in third position. This low ranking may come as a result of fewer households in the US having home computers, according to a study led by Sir Tim Berners-Lee – the English computer scientist credited with inventing the web in 1989. The study suggests this will negatively impact Internet revenue for the US in the future.

Projected Growth

According to studies performed by the Boston Consulting Group (BCG) and discussed by the G20, the Internet economy is expected to grow by about 10% in developed countries like the UK and the USA over the next 5 years. However, developing nations like Argentina and India expect to see an even higher jump to about 24% a year.

The Small to Medium Enterprise Stands to Receive the Most Benefit

This analysis has concluded that in countries such as China, Germany, France, and Turkey, it is the small to medium businesses that will see the most benefit, as their projected growth rate increases by about 22% over those businesses that have no online presence.

World Projections

Both G20 and the BCG suggest that businesses in all countries embrace and expand their internet markets as statistics show that these businesses grow faster than those that don’t. Businesses in countries that expand their high-speed Internet networks will also see an increase in revenue by about 10% to 20% over the next 5 years. But countries that don’t focus on Internet expansion will see a decline or a stagnation of revenue, missing a vital opportunity to build a significant net-based economy.

Author Bio: Jason Stevens from jason-stevens.com / Freelance web developer, tech writer and follower of cloud computing trends. Follow him on Twitter: @_jason_stevens_.

*UK2.net reserve the right to agree or disagree with our guest bloggers. Call it freedom of speech, but our guest bloggers are entitled to have an opinion. If you wish to agree or disagree, then feel free to leave a comment. Thanks for visiting our blog! If you wish to become a Guest Blogger for UK2, please contact our marketing department.

No Comments

Leave a Reply

Stop blending in with the rest of the crowd and start leaving your mark on the web

“I've been a faithful customer of UK2.net for about 12 years, regularly registering new domains on behalf of clients. The costs are superb value, and the service - online or over the phone - is fantastic. I'd highly recommend them to anyone - and regularly do.“

Jay Commins - Pyper York Ltd

“We would like to thank the support team for easily answering our website problem. They turned my day around with just a simple, understandable resolution with a friendly Service so a big thank you from me and all the elves here at the wicked chilli company“

- www.thewickedchilli.co.uk

“Great experience with UK2 support. We've been with them since they started up way back. Always good responses and the tech guy today who helped me out after I wiped my .htaccess file was brilliant. I'd recommend without reservation.!!“

Julian Jones - Hursley emc services Ltd

“I have been a customer of UK2 for as long as I can remember. It never ceases to amaze me the speed in which you respond to problems or queries, usually of my own making. The live chat for tech support is so efficient. I have nothing but praise for you guys and gals. The level of service is second to none. Nothing ever seems to be too much hassle. Well done, you all deserve a medal.“

- Yvonne Armitage Computer Services

“9pm on Sunday evening, realised that I hadn't renewed my hosting service. 10 minutes of help from your live chat support and my websites are up and running again. As a company offering 24 hour emergency electrical/locksmith services most of our work comes from the websites, so getting this fixed without having to wait for Monday morning was very important.“

Nick Lane - Kent Security and Electrical