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European Internet use will grow 54% this year and online spending will double to $69 billion, says The eEurope Report from researcher eMarketer.
A new eEurope Report from New York-based researchers eMarketer forecasts 108 million Europeans will be active Internet users by the end of this year, a 54% increase from the 70 million online recorded in 2000. The report projects 255 million Europeans will actively be online by 2004. The eEurope Report says that European e-commerce will generate $69 billion by 2001, an increase of 103% from the $34 billion recorded last year. That figure is expected to rise to $980 billion by 2004.
"The European online community reflects a moderate slowdown in the global economy from the past few high-growth years," said Nevin Cohen, eMarketer senior analyst. "However, if the US faces a more serious-than-expected recession this year, Internet penetration in Europe is likely to proceed much more slowly, particularly in large portions of the region with nascent market economies. The rapid expansion of e-commerce activity depends on increased investment in information technology, steadily increasing internet access, and public policies to make e-business more secure and appealing."
The eEurope Report also reports that by 2003, Europe will account for the highest number of worldwide wireless web users