[it wire] A report from Deloitte Access Economics, commissioned by Google, puts the direct contribution of the Internet to the Australian economy at $50b, the wider benefits through productivity increases at $27b and the value of the benefits to households at $53b.
The report says the $50b direct contribution amounted to 3.6 percent of Australia's GDP in 2010, a figure similar to the value to the retail sector or Australia's iron ore exports, and adds "wider benefits – which are not fully captured in GDP calculations – include: approximately $27b in productivity increases to businesses and government in the form of improvements to the way they operate and deliver services…[and] the equivalent of $53bin benefits to households in the form of added convenience (eg of online banking and bill paying) and access to an increased variety of goods and services and information."
Furthermore, it says that Internet activity has doubled over the last four years and forecasts that the direct contribution of the Internet to the Australian economy is set to increase by $20b over the next five years, to roughly $70b: a rate of growth double that forecast for the economy as a whole. This will also see the number of people employed in directly Internet related activities from 190,000 today to 270,000.
"Australia's use of the Internet will expand rapidly to progressively close the gap between Australia and the world's leading digital economies," the report says. "These expectations reflect the rollout of the National Broadband Network connecting more Australians at higher speeds, government and business making better use of the Internet, and government developing a policy framework that supports investment and innovation in the Internet economy."
Australia's $130b Internet economy
see also report