The Connected Continent
How the internet is transforming the Australian economy
The internet has transformed the Australian economy over the last 10 years, and is poised to play an even greater role in our daily lives and businesses as Australia positions itself to become a leading digital economy.
To help reach the goal of becoming a leading digital economy, this report aims to promote a deeper understanding of the role of the internet in the Australian economy.
The direct contribution of the internet to the Australian economy is worth approximately
$50 billion or 3.6% of Australia’s Gross Domestic Product (GDP) in 2010. This contribution is of similar value to the retail sector or Australia’s iron ore exports. There are currently some obvious and direct economic benefits of the internet, such as the 190,000 people employed in occupations that are directly related to the internet – including IT software firms, Internet Service Providers (ISPs), and companies providing e-commerce and online advertising services.
But, just as the roll out of electricity changed many aspects of peoples’ lives and transformed the way businesses operate, the internet provides wider benefits beyond its direct economic impact.