Internet is as valuable to Australia as iron-ore exports

Google are pleased to announce the release of a new report by Deloitte Access Economics, ‘The Connected Continent: how the Internet is transforming the Australian economy‘

Connected Continent is the first serious attempt to describe the importance of Australia’s burgeoning digital economy to the nation’s economic outlook. Already, the digital economy contributes the same amount to our GDP as some well established parts of our economy and it is set to grow rapidly in the coming years.

Key Findings – The Internet contributed $50 billion, or 3.6% of gross domestic product, to Australia’s economy in 2010, equivalent to the size of iron ore exports, and is growing at 7% to reach $70 billion over the next 5 years.

The report also shows that households benefit from greater choice, convenience, and easy access to information via the Internet, which is valued at $53 billion. Businesses, particularly small businesses, have seen their productivity rise dramatically as they use the Internet – worth $27 billion last year.

You can download the report along with other information on this website: www.connectedcontinent.com.au