1.5 million new jobs generated by EU internet economy

A new study has revealed that the digital economy has the potential to boost growth in the EU by generating an additional 1.5 million jobs.

The study by Vlerick Business School and carried out on behalf of IAB Europe reveals that despite the impact of the internet sector on GDP growth – in particular in the UK, Sweden, Germany, France and Italy where the internet was found to directly contribute between 1.7% and 6.3% of GDP - employment created in the internet sector has not yet unleashed its full potential.

The report specifically recognises the EU's opportunity to unleash the employment potential of the digital advertising sector, accelerating the creation of new jobs and fostering economic growth, which it argues would boost the transition to a data-driven economy - a key condition to achieve European Commission’s goal of getting every European digital.

Kimon Zorbas, Vice President of IAB Europe, comments: “We have discovered that if all European countries performed as well as Europe's leading internet economy – Sweden – Europe has the potential to generate an additional 1.5 million jobs. Even if we align with the US average output we will be able to generate an additional 400,000 digital jobs in Europe. At a time of crisis this makes our sector a beacon for an economic recovery model.”

Nick Stringer, Director of Regulatory Affairs, IAB UK said: “This study illustrates the importance and value of the EU digital economy, with the UK leading the way. It also shows why it is important to deliver a balanced data protection framework across all EU markets – one providing strong safeguards for consumers whilst delivering innovative content and services, underpinned by advertising.”

A copy of the Vlerick Business School Study - Online Jobs Boosting Europe’s Competitiveness can be downloaded here.