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Internet services sector ''UK''s fifth largest''

1 November 2010
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Internet services sector ''UK''s fifth largest''The internet is now responsible for around 7.2 per cent of the UK's total economy per year, a new study claims.

Research by the Boston Consulting Group indicated that the sector contributes around £100 billion a year, making it the fifth largest economic market in the country.

Carried out for Google, the report, entitled Connected Kingdom, suggests the web is just behind financial services and ahead of construction, transport and utilities in terms of economic power.

The Boston Consulting Group's Paul Zwillenberg said: "The internet is pervasive in the UK economy today, more so than in most advanced countries."

Those concerned with sales and operations planning in the online industry may also be interested in the finding that 73 per cent of households in the UK have broadband, with the internet economy expanding at a rate of around ten per cent a year.

Meanwhile, a technical problem at an exchange near Edinburgh affected internet broadband services at tens of thousands of UK homes on Friday night (October 29th), although the exact cause of the outage remains unclear.ADNFCR-3058-ID-800208661-ADNFCR
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