A Google-commissioned study found that 60% of the total of this £100 billion was spent on internet shopping, spending on internet devices and internet connections. Also, the study shows that the United Kingdom is ranked first in eCommerce, with every GBP1 spent online to import goods while GBP2.80 is exported. Broadband penetration rate in the United Kingdom is about 73%.
The £100 billion contribution to the UK economy last year represents 7.2% of the country’s Gross Domestic Product (GDP), higher than construction, transport and utilities industries. It is estimated that this contribution is expected to rise by about 10% a year and is expected to reach 10% of GDP by year 2015.