The Internet economy of the world is projected to increase dramatically by 2016 providing companies and countries with a vital source of growth, according to The Boston Consulting Group (BCG).
The biggest driver is the unprecedented increase in the number of users around the globe-from 1.9 billion users in 2010 to a projected 3 billion users in 2016, about 45% of the world’s population. The rise of the emerging markets, the popularity of mobile devices, especially smart phones, and the growth of social media are also compounding the economic impact of the Internet.
In The Digital Manifesto: How Companies and Countries Can Win in the Digital Economy, the latest in a series of BCG reports on the rise of the Internet, BCG makes the case that businesses will be fundamentally transformed over the next five years. It also urges action by companies and countries, recommending the creation of a “digital balance sheet” and offering an agenda for chief executives and policymakers to build their digital advantage.
“No company or country can afford to ignore this development. Every business needs to go digital,” said David Dean, a co-author of the report and a senior partner at BCG.
Joerg Hildebrandt, partner and managing director at BCG Middle East added: “The findings of this report are particularly relevant for the Middle East as this is one of the fastest growing regions in terms of internet and smart phone penetration.”
