If Britain ever escapes the never ending threat of a double dip recession it could all be thanks to Facebook.
The social network commissioned accountancy firm Deloitte to report how much it was contributing to the UK economy and the total figure was estimated to be in excess of £2 billion.
Deloitte’s report claims that Facebook is indirectly responsible for the creation of an “app economy” worth in the region of £500 million, which has generated over 35,000 jobs.
Furthermore, the report also highlights the social media ‘business participation effects’ of organisations that use Facebook pages to advertise and engage with customers, which is claimed to be worth £1.14 billion.
The internet marketing employment opportunities afforded by Facebook are also said to have helped created nearly 20,000 British jobs which is welcome news at a time of almost record unemployment.
Sheryl Sandberg, chief operating officer of Facebook, said: “Increasingly, social media means growth and jobs. Social media is proving particularly valuable for small- and medium-sized businesses, which form the backbone of the European economy.”
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