What Is Facebook’s Impact On Global Economy And Jobs?
A new report by Deloitte analyzes how Facebook’s marketing, platform, and connectivity effects have facilitated growth and jobs around the world.
Commissioned by Facebook, the study estimates that the company, with an approximately $8 billion cost base, enabled global economic impact of $227 billion and 4.5 million jobs around the world in 2014.
More specifically, Deloitte’s report looks at how Facebook stimulates economic impact by providing:
- tools for marketers
- a platform for app developers; and
- demand for connectivity, meaning data usage and mobile devices.
The study is an update to Deloitte’s 2011 European report on the subject and now includes an analysis of other regions and countries.
Key findings in the report include:
- The United States is estimated to capture the largest share of economic impact enabled, $100bn;
- High rates of engagement enabled $21bn of economic impact in Central and South America;
- The thriving app economy in EMEA has helped to generate $13bn of economic impact for the region through the platform effects; and
- In APAC internet uptake and purchases of devices motivated by Facebook have contributed to $13bn of economic impact.
Jolyon Barker, Deloitte’s Global Managing Director, Technology, Media & Telecommunications, says of the report:
“Our study finds that Facebook enables significant global economic activity by helping to unlock new opportunities through connecting people and businesses, lowering barriers to marketing, and stimulating innovation.”
Facebook’s Chief Operating Officer, Sheryl Sandberg says:
“Across the world there is a greater urgency about creating jobs. The good news is that the tech industry is powering the economy and creating jobs within and beyond its own campuses. Every day, businesses of all sizes, sectors, and skill sets are using the Facebook platform to grow and expand.”
Here’s an infographic based on the research:
More information and a copy of the report can be found on Deloitte’s website.
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About the Author
Laurens Bianchi is an online marketing professional from the Netherlands and has been blogging on ViralBlog since 2008. Laurens is the Founder of Share Force One, a content agency which is specialised in the sports, event and entertainment market. Follow him on Twitter or contact him on LinkedIn.