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January 21, 2015updated 19 Aug 2016 12:22pm

Facebook contributes over $200bn to global economy

Facebook’s 1.35 billion user base would make it the world's second-most populous nation, if it were a country.

By CBR Staff Writer

Facebook reportedly contributed $227bn to the global economy last year, while supporting 4.5 million jobs globally, a new Facebook commissioned report from Deloitte has revealed.

Entitled ‘Facebook’s Global Economic Impact’, the report added that the social network has 1.35 billion users and an $8bn cost base, further stimulating economic impact through tools for marketers, an application development platform and demand for connectivity.

Deloitte technology, media and telecommunications global managing director Jolyon Barker said: "Our study finds that Facebook enables significant global economic activity by helping to unlock new opportunities through connecting people and businesses, lowering barriers to marketing and stimulating innovation."

During the year, the US experienced major economic impact from Facebook, with a contribution of $100bn and over one million jobs, followed by Europe witnessing $51bn worth of economic impact and 783,000 jobs, with $11bn and 154,000 being attributable to the UK economy.

The report added that the Facebook’s marketing impact enabled $148bn (£98bn) of economic impact and 2.3m jobs across the globe, with the app development platform enabling $29bn of economic impact and 660,000 jobs.

Facebook’s connectivity demand enabled $50bn of economic impact and 1.6m jobs worldwide.

Commenting on the report, Facebook chief operating officer Sheryl Sandberg said: "Across the world there is a greater urgency about creating jobs."

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"The good news is that the tech industry is powering the economy and creating jobs within and beyond its own campuses.

"Every day, businesses of all sizes, sectors, and skill sets are using the Facebook platform to grow and expand."

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