UK online economy valued at £82 billion

The UK internet economy has been valued at £82 billion ahead of the publication of the government green paper on communications that will help define regulation of the sector.

The digital economy is now worth almost 6 percent of gross domestic product, according to AT Kearney, the consultancy, which it said was significantly higher than the global average. Vodafone, the mobile operator that sponsored the research, said it was a larger section of the economy than mining and utilities combined. The study found that every £1 spent on both fixed and mobile internet access in the UK supported the creation of £5 in revenue for the rest of the digital economy. Greater access to the web supported a wide range of applications from internet shopping to gaming and social media. Some £45 billion is generated by e-commerce and mobile commerce, while connectivity services, online search advertising and device manufacturing generate another £37bn.