Feeds

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

Tells small biz world to join social network army

Boost IT visibility and business value

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). ®

Build a business case: developing custom apps

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.