Web companies support economic growth above average
The internet economy has become a growth engine. Not only does she benefit from her ascent. She also supports other sectors and has "above-average positive effects on economic growth", such as the Vienna University of Economics and Business (WU) on behalf of the ISPA industry association http://www.ispa.at shows. It is true that there is no satisfactory competitive situation on the market for web access. In other sectors such as the service sector or in the construction industry, however, the network creates new jobs and dynamism.
"A higher demand for products and services in the Internet industry by, for example, EUR 1.000 leads to an increase in production of EUR 1.670 in the economy," the experts told pressetext. The consequential effects for the economy as a whole are therefore much higher than in the construction industry or machine production, for example. B2B services, real estate and housing as well as services from credit institutions and the construction industry benefit from the growth of the Internet economy above average.
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High added value
"More than half of the production of Internet service providers goes to business and thus stimulates further production in other industries," says WU Professor Gunther Maier. In Austria, this corresponds to around 3,1 billion euros for goods and services produced totaling almost six billion euros. With a value-added volume of 2,8 billion euros, the contribution made by Internet service providers to gross production is even higher than that of strong industrial sectors such as clothing, machines and motor vehicles.
Employment, productivity, innovation and product development are stimulated by developments in the internet economy. "An additional production of one million euros creates eleven new jobs" in the economy as a whole, according to the experts. The new jobs are high quality and well paid above average. In addition, Internet service providers provide innovation impulses and stimulate the need for new developments in hardware and software as well as organization, which leads to investments in research and development.(ck)
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