Massive growth forecast for internet economy in next 5 years

A study by Boston Consulting Group for Google estimates the value of the web economy in G20 countries will nearly double by 2016.

The rapid rise of mobile internet access will play a significant part in an increase from  $2.3tn (£1.5tn) to $4.2tn (£2.7tn), and will see 3bn people using the internet in four years’ time – nearly 50% of the world’s population.

However, traditional internet access via a copper wire and a desktop PC will fade into the background, as the rapid fall in the cost of smartphones – with cheap versions now costing about $100 – means that by 2016 about 80% of all internet users will access the web using a mobile phone.

The research suggests that the UK is one of the most advanced e-commerce economies.

For the full story, see http://www.bbc.co.uk/news/business-16753902