Facebook has commissioned Deloitte to estimate the economic impact it enabled in 2014 around the world and it looks like the social media giant has made quite the splash.
Deloitte analysed the contribution Facebook supports as a catalyst for economic activity in ecosystems composed of marketers, app developers, and providers of connectivity. It’s estimated the platform has enabled global economic impact of $227 billion and 4.5 million jobs around the world in 2014.
The report analyses how the company’s marketing, platform, and connectivity effects have facilitated growth as well as stimulate economic impact. It does this by providing 1) tools for marketers; 2) a platform for app developers; and 3) 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.
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.”
“Across the world there is a greater urgency about creating jobs,” says Facebook’s Chief Operating Officer, Sheryl Sandberg. “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.”
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.
You can download the full report here.
Swinburne University of Technology has launched a series of Bootcamp Graduate Certificate courses, developed in partnership with FourthRev. The courses, an Australian-first, will upskill career changers and provide students the capabilities required to thrive in the digital economy. They are available on-campus and through its online arm, Swinburne Online. Alongside completing projects which will emulate […]
PayPal has partnered with Welcome to Country, Australia’s first Indigenous-led not-for-profit marketplace, which showcases businesses that support Aboriginal and Torres Strait Islander communities. Welcome to Country launched in 2019, providing an online platform for Indigenous experience providers across tours, day treks, scenic flights, bush food, festivals, art and cultural experiences. When the pandemic hit, the […]
Former liberal politician and female icon Julie Bishop has further cemented her celebrity status by scoring her very own Barbie doll. According to The Sydney Morning Herald, Barbie creators Mattel, created the Barbie doll in Bishop’s likeness to honour her achievements. Unfortunately, the Julie Bishop Barbie won’t be for sale. Instead, the one-off doll was […]
Full-service digital marketing agency Whitehat Agency has launched its new website and branding, with the end-to-end project delivered by its own team of experienced in-house website designers, developers and UX specialists. After a challenging 2020, Whitehat Agency has experienced a very positive 2021 to date, onboarding nine new clients including The Dog Mum, Handpicked Wines, Compost […]
Award-winning house and land provider, Thrive Homes has launched a new brand campaign to encourage homebuyers worried about the complicated process of building a new home to say 'no' to stress and 'yes' to an efficient, more affordable new home without compromising quality by making 'The Clever Choice' and choosing Thrive.
Fast-growing fintech startup DiviPay has announced the appointment of one of Australia’s most influential and reputable public figures in the accounting world, Trent McLaren, as its head of accounting. The move will enable Divipay to expand its reach into the accounting industry, with the aim of growing its business customer base. DiviPay, Australia’s first virtual […]
Independent agency Adhesive has been appointed the public relations agency of record in Australia for the Domain Group, a leading property technology and services marketplace. The appointment will see Adhesive support PR & communications and campaign media activity for Domain, across consumer, corporate and B2B market remits. Adhesive will work closely with Domain’s in-house communications, […]
Sean Szeps is a gay father and a proud member of the LGBTQIA+ community who believes he does not know enough about those within his community that have different gender and sexual identities to his own. Feeling compelled to explore the unique experiences of every member of the community, Szeps’ new podcast, Come Out Wherever […]