Irish Spend

The Irish Online Send is €850,000 per Hour

On Tuesday, May 31st, 2016, Eoin Burke-Kennedy wrote an article in the Irish Times newspaper about, Minister Naughten’s two reports highlighting the importance of the digital economy in which he published.

The report indicated approximately one in seven Irish adults generate a supplementary income via the internet.

Irish consumers are now spending €850,000 an hour online, up 20 per cent on four years ago, making Ireland one of the fastest growing digital economies in the world.

The figure was contained in one of two reports, published on Tuesday the 31st of May by Minister for Communications Denis Naughten, highlighting the burgeoning strength of e-commerce in Ireland.

The first report on the macro-economic impact of the internet indicated the digital economy here now encompassed 6 per cent of gross domestic product (GDP), equating to €12.3 billion.

However, on the current growth trajectory, this will expand to about €21.4 billion or nearly 8 per cent of GDP by 2020.

The question you’ve really got to ask yourself is where do you stand in relation to your website. Are you even making any money through it?

The report, carried out by the Indecon consultancy, said the digital economy had an employment footprint of 116,000 direct and indirect jobs, of which 68,000 are directly linked to digital.

While more and more consumers are flocking online to buy basic goods and services, new digital trends in cloud computing, mobile web services and social media are radically altering the business landscape.

The report indicated approximately one in seven Irish adults generate a supplementary income via the internet.

The largest single contributor to the internet part of the economy was online consumer spending, which amounted to about €7.5 billion annually. This was expected to grow by a further 25 per cent over the next three to five years.

What about Social media? Have you got a fan page do you even know what Facebook is? If you do are you utilizing your followers?

To read more on this article by Eoin please click here