Facebook Added $17.6 Billion To European Economy

Facebook has added almost $17.6 billion to Europe‘s economy, or 15.3 billion euros.

So says a Deloitte analysis of the Facebook effect across the 27 countries comprising the European Union.

Richard Allan, director of public policy for Facebook Europe, summarizes Deloitte’s findings in a blog post:

  • Facebook adds an estimated 15.3 billion euros value to the European economy;
  • Facebook helps to support 232,000 jobs across Europe;
  • Increased businesses participation through advertising, customer referrals, and enhanced brand value is worth around 7.3 billion euros; and
  • The Facebook application economy is worth 1.9 billion euros and supports around 29,000 jobs.

These findings suggest that Facebook has a stronger effect upon Europe’s economy than what a similar study found about the United States in September — the social app economy created $12.2 billion in jobs over the past year.

Facebook growth in the United States occurred earlier and is now slowing down, as the social network’s membership expands more in other parts of the world.

Readers, do you think the statistics on job creation are inflated or understated?

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