internet economy (afp)

jeradonah jeradonah at
Mon Aug 28 13:15:52 PDT 2000,4500,500244430-500361648-502126108-0,00.html

Technology: By 2002, Internet will have created 10 million jobs in U.S. and Europe, study says

Agence France-Presse

NEW YORK (August 28, 2000 1:33 p.m. EDT - The "Internet economy" will employ more than 10 million in the United States and Europe by 2002 and generate $1.8 trillion in revenues, a study released Monday said.

The study conducted for Andersen Consulting said the United States has the world's most advanced digital economy, but that Europe is starting to close the gap.

"The good news is that the Internet is creating more jobs than it is destroying," Andersen partner Steve Freeman said.

"And this peripheral job creation is likely to be significant in the short term as established businesses invest in building up new Internet operations alongside their existing businesses."

The Internet alone will have directly created 5.8 million jobs in the United States and three million jobs in the six European countries surveyed by 2002.

These jobs are attributed to Web portals, software firms, Web designers, and telecommunications and Internet service providers.

But the ripple effect of Internet firms will help create more than two million jobs, bringing the total to more than 10 million, the report said.

In 1999, the Internet economy in the United States generated $507 billion in revenues and some $132 billion in the European countries studied.

By 2002, the study said, the Internet sector will be worth $597 billion in the European countries, or roughly one half the $1.23 trillion forecast for the United States.

The report examined the impact of the Internet on the economies of the United States, France, Germany, Ireland, Italy, Spain and Britain.

______________________________________________________ Get Your FREE FlashMail Address now at It's Free, Easy, & Fun !!!

More information about the lbo-talk mailing list