UK is the ‘most internet-based major economy’

The internet contributes to 8.3% of the UK economy, a bigger share than for any of the other G20 major countries, a new study suggests.

The “internet economy” was worth £121bn in 2010, more than £2,000 per person, researchers at the Boston Consulting Group (BCG) said.

That made it bigger than the healthcare, construction or education sectors.

The UK also carries out far more retail online than any other major economy.

Some 13.5% of all purchases were done over the internet in 2010, according to BCG, and this is projected to rise to 23% by 2016.

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