Facebook adds £2.2bn to the UK economy

By @gordonmacmillan,

The way things are at the moment the UK needs all the likes it can get. Luckily we have quite a few, according to a Deloitte study out today. It looks into the economic impact of Facebook across Europe and says Facebook is worth as much as £2.2bn to the UK economy and that the social network supports as many as 35,200 jobs.

The figure came as part of an Ad Boost programme that Facebook has announced, which will see it give away up to £4.2m of free advertising to help small businesses get started and grow their business on Facebook.

The Ad Boost programme aims to reach some 50,000 small businesses across the UK, France, Germany, Spain and Italy and will offer businesses the chance to claim up to £80 of ad credits.

The Deloitte report shows how Facebook already supports £1.14bn in “business participation effects” in the UK as businesses, predominantly small businesses, use Facebook’s free pages to promote their brand, raise awareness, advertise and generate new business. This activity it says supports 18,400 jobs in the UK.

This makes the UK one of the largest “Facebook economies in Europe. We’re level pegging with Germany, see infographic below:

FacebookInfographic 520x2549 Facebook says its worth £2bn to the UK economy, as it announces free ads for SMEs


Full article at:

WallBlog

TNW