Facebook is claiming that it contributed $20 billion to the European economy in 2011 and supports 232,000 jobs across the region. The figures come from a study it commissioned from Deloitte LLP.
“Businesses are using the service to connect with their customers, to advertise more effectively and to build brand identity. In Europe, thousands of people are employed just to make Facebook apps, and technology manufacturers are selling smartphones and tablets to Facebook users who want to connect wherever they go. We always knew that this was worth a lot of money. However, there was no way to measure that value, until now,” says Richard Allan, Director of Public Policy, Facebook EMEA on Facebook’s blog.

Deloitte’s study examines four key areas:
1. Narrow impact: Facebook employs staff across Europe. That means money spent on wages, buildings, equipment and with suppliers.
2. Business participation: Companies are increasing their revenue and building their brands thanks to Facebook advertising, fan pages, ‘likes’ and by communicating directly with customers.
3. Platform impacts: European businesses that build apps for Facebook employ thousands of people. Also, social events planned online mean money spent on venues, food, drink and other expenses.
4. Technology sales impacts: For many people, Facebook is the deciding factor when considering a new smartphone or tablet computer. Accessing the site or app also drives consumption of mobile and fixed-line broadband.

Download the report here: Deloitte Report

email

You may also like: