Internet Economy Grows by 62 Percent - Internet ROI

06/28/2000

650,000 new jobs were created last year as a result of the Internet economy

A study from the University of Texas has found that 650,000 new jobs were created last year as a result of the Internet economy bringing the total number of people employed in the industry to 2.5 million. The figure represents a 36 percent increase on 1998.

More people are now employed in the Internet business than the insurance, communications and public utilities industries and twice as many as the airline, chemical legal and real estate industries. Revenue generated from the Internet increased by 62 percent and totalled USD524 billion in 1999. That figure is likely to reach USD850 billion by the end of 2000.

The Internet industry showed strong growth across all sectors but particularly in the infrastructure layer and commerce layer. Revenue per employee increased by 19 percent overall between 1998 and 1999 with the most gain in the services and goods industries.

The report is the third in a series of reports aimed to decipher the Internet Economy. It was commissioned by computer hardware giant, Cisco Systems and carried out at Austin's Center for Research in Electronic Commerce.

The findings are based on interviews with over 3,000 US companies that generated all or part of their revenues from Internet products or services.
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