Tuesday, September 13, 2011

Internet boom likely to create hundreds of thousands of jobs in UK

The European head of search engine giant Google has predicted that despite the economic downturn hundreds of thousands of jobs could be opened up in Britain within five years because of a boom in internet businesses.

Philipp Schindler said that there could be as many as 365,000 jobs by 2015 as online businesses and companies continue to grow.

"In the UK, given the rate of job creation that economists associate with a rise in GDP, this translates into an expectation of hundreds of thousands of new jobs, thanks to the internet," Express.co.uk quoted Schindler, as saying.

"And I think that is on the conservative side. That is what could be achieved by putting a focus on this sector. That feels to me like a sizeable number," he added.

He called internet as the "biggest driver of export opportunity you will find over the next decades".

The Google boss also said that it would be prompting the possibility for many small and medium-sized businesses to sell their products overseas and target new markets.

"We know from a data perspective that for every pound that is imported, the UK exports close to three dollars in internet commerce goods and services," Schindler said.

"So the UK is already doing relatively well in that sector, but the ratio could be significantly higher," he said.

"Whatever can be done on broadband connectivity, on the mobile side is a fundamental pillar of a successful digital economy. I have never seen a place where more bandwidth can hurt. Whatever can be done, while preserving competition and not allowing monopolistic practices, to drive broadband penetration the better," he added.

Schindler further said businesses must also understand "mini-trends" if they are to take advantage of online opportunities, pointing towards smartphone technology, "cloud" computing and the use of consumer data.
Source: ANI

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