July 7, 2003, 12:00 AM

European online sales will double this year, eMarketer projects

Online retail and travel spending in Europe will nearly double this year over last, to $60.7 billion from $33.4 billion, then nearly double again next year to $114.1 billion, says the new Europe E-Commerce: B2B & B2C report from eMarketer Inc.

Online retail and travel spending in Europe will nearly double this year over last, to $60.7 billion from $33.4 billion, then nearly double again next year to $114.1 billion, says the new Europe E-Commerce: B2B & B2C report from researchers eMarketer Inc.

In 2005, online retail and travel sales will reach $178.6 billion; in 2006, sales will hit $243.4 billion, eMarketer projects. While eMarketer doesn’t break out travel spending from retail, it reports that online travel represents about 20% of the online spending number.

Aggregating information from other research companies, eMarketer also reports:
_ Germany, the UK, France and Italy accounted for 70% of e-commerce revenues in Western Europe in 2002.
_ In 2002, 41% of home Internet users in France, Germany and the UK had three years or more experience online.
_ Sweden, Denmark, Finland and Norway all rank among the top 10 countries globally for e-business readiness; the Czech Republic, at #27, is the highest ranked country in Eastern Europe.
_ B2B e-commerce in Europe will more than triple in three years, from $314.15 billion in 2003 to $1 trillion in 2006.
_ IT Spending in Western Europe will grow to $615.8 billion this year; Germany, the UK and France are the three largest Western European IT markets.

 

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