Web economy expected to double by 2016 in G20 countries

London, Jan 28 (ANI): The value of the web economy in G20 countries is going to double in the next four years and is expected to hit a whopping sum of 2.7 trillion pounds by 2016, a report has claimed.

The new report commissioned by the Boston Consulting Group claimed that half the world's current population, or three billion people, would be online by 2016.

The study said the primary reason for the significant growth would be mobile web access, and claimed that four out of five people accessing the web are likely to be going online via smart mobile phones.

In 2010, the Internet economy accounted for just over four per cent of the G20 economies, but Boston's researchers suggested that by 2016 it would be much more thoroughly integrated into the wider economic picture, The Telegraph reports.

They claimed that each household currently researches around 2,000 pounds worth of purchases online before buying.

The report claimed that different companies such as Amazon, Apple, Facebook and Google, would seek to tie users in to their particular ecosystems.

The report however concedes, that there is at present no standard way of measuring what part of an economy is 'digital'. (ANI)