The Internet has transformed the way we live, work, socialize and meet, and the way our countries develop and grow. Two billion people are now connected to the Internet, and this number is growing by 200 million each year. But the magnitude of the economic impact of Internet-related activities is not obvious.
There are many studies on the impact of IT or telecommunications but little analysis on the global impact of the Internet on growth, jobs, and wealth creation. Does the Internet really create wealth or just displace it? How large is the economic impact of the Internet in objective terms? etc.
To this effect McKinsey Global Institute (MGI) has come out with an excellent research report “Internet matters: The Net’s sweeping impact on growth, jobs, and prosperity with an aim to estimate the magnitude of the impact of the Internet on the world economy.
