UK INTERNET

The UK Internet & the Economy

The UK Internet & the Economy

Introduction

The internet industry of the United Kingdom is worth in hundreds of billions of pounds. It contributes a greater percentage level in the economy of the country and the national interest. The role of internet in the UK's economy is similar to the hotel and the restaurant market or equivalent to the financial sectors. The UK companies are gaining access to the international market with the use of internet and attaining remarkable growth. This increasingly growing industry is progressing more in the regions of Scotland and the Northern Ireland, while lagging behind London and the South-East (Robinson, 2010).

The role of internet is progressing more in the field of providing online shopping facilities to the consumers. This portion of internet industry is raising the retail sales in terms of online transactions. This e-commerce approach has given a boom to the economy of the UK around 3.5 billions of pounds (Robinson, 2010).

The GDP rating of the UK's internet industry is around 9%, which is assumed to be risen up to 13%, by the year of 2015. The internet industry requires the proper and appropriate implication of the broadband penetration across the state. It is striving for facilitating its people with the best downloading speed at all levels (Robinson, 2010).

Today, even small firms are highly contributing to the global sales via using internet. UK has been earning highly in exporting goods and services with the use if internet, together with the best provision of internet facilities in surfing and researching regions of interest. Only the Google's annual turnover is worth enough as compared to the previously earned economy of the entire internet (Robinson, 2010).

Discussion

The role of internet in the UK has been growing rapidly in terms of contributing to the GDP of the state. According to the research of “The Boston Consulting Group”, UK is at the top position among all the G20 nations in attaining GDP contribution by the internet. This leads the internet industry to be compatible with the economic status of healthcare and construction organizations.

Internet service has been a matter of conflict in the business areas of bank as they do not rely on the security levels of the internet in terms of their confidential data security (Bunkall, 2012).

Growing Internet Websites

According to the research, hundreds of websites are being created daily in the UK on daily basis ending with .uk. The research shows that UK websites and web-links are preferred broadly for the purpose of researching in the sense of reliability and authenticity. Such an increase in the number of the registered websites is because of the broadband net application across the country.

There are websites with the domain of .com together with the domain of .uk, which have produced a large amount of profits and revenues in millions of pounds to the UK economy. The websites that are registered with the domain of .uk are considered trustworthy as compared to the ...