Feeds

Facebook 'contributes' €15.3bn to EU economy... bitch

Tells small biz world to join social network army

High performance access to file storage

The UK economy might be down in the dumps, but there is a ray of sunshine from an unlikely source: Mark Zuckerberg's Facebook has supposedly helped to contribute £2.2bn to the country's GDP in 2011.

Facebook added that – with a lot of help from the rise of mobile applications – it has "supported" 232,000 jobs in recent years across the European Union.

It further claimed, courtesy of numbers crunched by a Deloitte research team on behalf of the the social network, that Zuck's outfit had contributed €15.3bn, or £12.7bn, to the EU's economy.

'appy Facebookers chow down on broadband... bitch

Perhaps unsurprisingly, the Deloitte report coincided with a Facebook announcement about new partnerships and programmes "to help the UK reap the benefits of social media".

Facebook said it is offering advertising credits worth £4.2m to 50,000 small businesses based in the UK, France, Germany, Spain and Italy. That figure, in case you were wondering, breaks down to £84 of ad credits per SMB.

The company is taking its "Facebook for business" bus on the road throughout Blighty, where it will try to convince small firms to use its network and learn more about its ad engine.

"Today's report shows that Facebook is about a lot more than sharing pictures or keeping up with friends; increasingly social media means growth and jobs," Facebook COO Sheryl Sandberg opined.

"As the Deloitte study highlights, social media is proving particularly valuable for small and medium sized businesses, which form the backbone of the European economy.

"The impact of social media is a bright spot in challenging times, but growth won't happen on its own. We need to make sure that we invest in the right education, training, technology and networks so that social media can continue to drive innovation and economic growth."

Deloitte's full report can be scrutinised here (PDF). ®

High performance access to file storage

More from The Register

next story
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
France bans managers from contacting workers outside business hours
«Email? Mais non ... il est plus tard que six heures du soir!»
Adrian Mole author Sue Townsend dies at 68
RIP Blighty's best-selling author of the 1980s
prev story

Whitepapers

Mainstay ROI - Does application security pay?
In this whitepaper learn how you and your enterprise might benefit from better software security.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.