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Web economy ‘will double by 2016’

The value of the web economy in G20 member countries is set to almost double by 2016, a new report has suggested.

According to the study, nearly 50% of the world’s population will be using the internet in four years’ time, leading to a surge in the current £1.5 trillion value, to £2.7 trillion.

Rising levels of mobile internet access are expected to account for much of the increase, with around 80% of internet users expected to access services via a mobile phone by 2016.

The research also suggests that the UK currently has one of the most advanced e-commerce economies, although over the coming years the majority of internet users are expected to be living in emerging markets.

Business owners are being urged to embrace the digital economy, with the study predicting that the internet will increasingly change the nature of relationships between businesses and customers.