In these challenging economic times, this new study from the Interactive Advertising Bureau is a nice pick-me-up. According to them, the internet directly employs more than 1.2 million Americans with above-average wages in jobs that did not exist two decades ago. And another 1.9 million people work to support those with directly Internet-related jobs, making a total of 3.1 million Americans who are employed thanks to what they call “the interactive ecosystem.”
And apparently, interactive advertising is responsible for 300 billion dollars worth of economic activity in the U.S., which is about 2.1% of the total U.S. gross domestic product (GDP).
This is part of the first-ever research to analyze the economic importance, as well as the social benefits, of the Internet.
The study was commissioned by the Interactive Advertising Bureau and was produced by Harvard Business School professors John Deighton and John Quelch, along with Hamilton Consultants. They designed the study was to provide an impartial and comprehensive review of the entire Internet economy, and to answer questions about its size, what comprises it, and the economic and social benefits Americans get from it.
The paper’s Executive Summary reminds us that within two decades, the Internet has become central to social and economic life and is, today, a mature and integral element of the U. S. national economy.
Not only is it vital infrastructure, it spurs on entrepreneurship and social change. It has changed the way firms find customers, customers find information, and people manage social relationships. It contributes significant value to the U.S. economy by creating and maintaining jobs, facilitating the rapid flow of information, and generally enabling the growth and prosperity of businesses.
We at Speedplexer hope this report may lead the way out of the global economic struggle, with internet speed!