12 African Nations With The Highest Internet Contribution To GDP

Avatar
Written by Peter Pedroncelli

The internet continues to be a driver of business and economies the world over, and the internet contribution to gross domestic product is proving to be an interesting barometer of growth.

According to a study by the McKinsey Global Institute, the internet’s contribution to the gross domestic product accounted on average for 3.4 percent of GDP for the G8 countries (Canada, France, Germany, Italy, Japan, Russia, United Kingdom, the United States) and Republic of Korea, Sweden, Brazil, China and India.

While in Russia, for example, the internet accounts for only 0.8 percent of GDP, Sweden has an estimated contribution to GDP of 6.3 percent, showing the vast difference among developed nations.

In a more recent McKinsey report, Africa’s average internet contribution to GDP was only 1.1 percent in 2012, or about half the level seen in other emerging economies.

This has positive implications for the potential growth of e-commerce and internet-based businesses on the continent.

Here are the 12 African nations with the highest internet contribution to GDP.

Sources: Intracen, TechCentral, McKinseyReport, VenturesAfrica.