Internet economy accounts for 12 percent of the US GDP, study finds

A Harvard Business School study commissioned by the Interactive Advertising Bureau (IAB), an advertising trade association, found that “the Internet economy grew seven times faster than the total US economy during the past four years.” The internet economy grew 22 percent since 2016 compared to a 2-3 percent increase in the US gross domestic product (GDP) and currently accounts for 12 percent of the US GDP, according to the IAB. 

“It’s clear that the U.S. economy is undergoing a radical transformation driven by the market-making power of the internet,” said David Cohen, Chief Executive Officer, IAB. 

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Study Finds Internet Economy Grew Seven Times Faster Than Total U.S. Economy, Created Over 7 Million Jobs in the Last Four Years (IAB, Oct. 18, 2021)