HONG KONG -l'Internet should contribute approximately 18.8 billion--7,2% of the total - to the economy of Hong Kong by 2015, supported by a rise in mobile use and online shopping, said a report to Google.
The digital market in the city of seven million amounted to HK 96 billion ($12.4 billion) in 2009, or 5.9 per cent of its gross domestic product for the year.
It should expand by an average 7 percent each year in HK 146 billion ($18.8 billion) by 2015, said the report, entitled "the port connected: how Internet transforms the economy of Hong Kong".
"The rate of growth of the Internet economy is significantly faster than Hong Kong?" "s planned rate of 4 per cent GDP growth," said the report.
He said that growth will be led by consumption increased on online shopping and more deep mobile penetration, which will result in a consumption online. Penetration of broadband in Hong Kong is the sixth in the world.
The report, drafted by the Boston Consulting Group and commissioned by Google Hong Kong, evaluated the Internet economy of the city with an index based on subscriptions to wide band, smartphone adoption and consumption online.
Index has ranked Hong Kong before equality with the United States and the Luxembourg and Singapore, but behind the Korea, Japan, United Kingdom and Germany.
The report said about one-third of the city Internet economy comes from consumption, one-third of net exports of materials related to the Internet and electronic commerce and the rest of the Government and private investment in Internet-related goods and services.
The report also found small businesses and medium-sized businesses who actively use the Internet has made sales.
The Government has welcomed the findings, saying: he showed "strong indicators" the vitality of the digital economy in Hong Kong.
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