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Google predicts the Internet could create 365,000 new UK jobs by 2015

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Economists based in Google have predicted that an Internet boom in the UK could open as many as 365,000 jobs within the next five years, with the Internet accounting for a fifth of the regions GDP growth, The Telegraph reports.

Google’s European Vice-President and chief of search operations Philipp Schindler believes 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.

“And I think that is on the conservative side. That is what could be achieved by putting a focus on this sector. That feels to me like a sizeable number.”

Schindler is in the UK to help drive Germany’s mid-sized sector, helping to drive the amount of goods exported by businesses in the region. He noted that for every pound that is imported, the UK exports “close to £3 in e-commerce goods and services”. He adds that the “UK is already doing relatively well in that sector but the ratio could be significantly higher”.

via Google predicts the Internet could create 365,000 new UK jobs by 2015.

Written by Kees Winkel

September 13, 2011 at 10:36

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