Internet economy – growth opportunity for Europe
On the 9th of July EIF invited its members and friends to talk about the economic impact of the internet. Lambert van Nistelrooij, MEP and EIF Governor, chaired this event and opened the floor for three prominent speakers.
David Dean, Senior Partner and Managing Director at The Boston Consulting Group (BCG) started the evening with a detailed overview of the world’s digital economy and its growth opportunities for Europe. He forecast an internet economy of one trillion euros in the EU28 countries by 2016. To reach this goal Mr Dean identified 5 areas for action:
1. Ensure investments in fixed and mobile broadband networks as well as the supporting digital infrastructure
2. Encourage data-rich business models
3. Establish programs for digital literacy in all parts of the educational system
4. Encourage entrepreneurialism – and digital transformation of existing businesses
5. Get citizens online
Listen to David Dean’s speech:
Katrine Ellersgaard Nielsen, co-author of the Copenhagen Economics report ‘The impact of online intermediaries on the EU economy’, took the floor next and presented key findings of the study. The report showed that online intermediaries have been at the center of the Internet’s success as a key driver of economic growth, innovation, creativity, and expression by providing activities such as search, e-commerce, social networks and cloud computing. The updated study showed that the total intermediary contribution to the EU economy increases by more than 10% a year. Therefore, online intermediaries now represent a larger share of the European economy than in the past. However for this sector to continue to see such growth in the EU, a Digital Single Market is a key. Therefore, Ms Ellersgaard Nielsen stressed the need to remove barriers to the creation of a Digital Single Market in Europe.
Click here to listen to Katrine Ellersgaard Nielsen’s speech:
Copenhagen Economics report 'Online Intermediaries' 2012 (pdf download)
James Waterworth, Vice President of CCIA Europe, presented case studies of B2B and B2C businesses successfully using internet as a platform to reach out to customers locally and worldwide. Among others he spoke about Trade Shift, an online platform offering companies a digital way of managing their finances. He also presented examples of companies using online platforms for marketing and sales: Blue Water Sports and Nasze-Antyki; and recruiting services: Work4Labs. In his closing remarks he encouraged support for the micro multinational trading system to reshape the global trading system “for a small guy and not just for a big guy”.
Listen to James Waterworth’s speech:
See event
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