A Deloitte report that looks at how Facebook stimulates economic impact says that the social network’s marketing, platform and connectivity effects had a global economic impact of $227 billion and 4.5 million jobs last year.
The study, “Facebook’s Global Economic Impact,” was commissioned by Facebook and excludes the economic impact of the company’s own operations.
The $227 billion economic impact and 4.5 million jobs are attributed to third parties that operate within Facebook’s ecosystem.
The report goes on to provide a breakup of the data based on regions and countries for each of the three parts of the Facebook economy – tools for marketers, app development platform, and connectivity.
Facebook Marketing Tools – The Facebook marketing effect enabled $148 billion of economic impact and 2.3 million jobs globally. North America accounts for nearly half ($81 billion and 870,000 jobs) of this impact. Within North America, the U.S. alone accounts for $77.6 billion and 816,000 jobs.
Facebook App Economy – The Facebook app economy is mostly about the developer platform Facebook has created that provides the tools developers need to build, promote and monetize their apps within and outside Facebook.
This platform effect enabled $29 billion of economic impact and 660,000 jobs around the world. North America accounts for $9 billion and 140,000 jobs, out of which the U.S. gets $8.2 billion and 126,000 jobs.
Connectivity Effects – Economic impact attributed to connectivity effects here refers to Internet usage and purchase of devices motivated by Facebook usage. This generates $50 billion in economic impact and 1.6 million jobs around the world. North America accounts for $14 billion and 150,000 jobs, out of which the U.S. gets $13.8 billion and 135,000 jobs.
Facebook Chief Operating Officer Sheryl Sandberg said in a release announcing the report data that across the world there is a greater urgency about creating jobs, and 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,” said Sandberg.
Jolyon Barker, Deloitte Global Managing Director for Technology, Media and Telecommunications, said in the release that their study finds that Facebook enables significant global economic activity by helping unlock new opportunities through connecting people and businesses, stimulating innovation, and lowering barriers to marketing.
Facebook’s Global Economic Impact – Deloitte Report (pdf)