economic impact
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Surprise! Study finds internet worth a lot of money, is responsible for 4.7 percent of US economy
Ever wondered how much the interwebs contribute to the Uncle Sam's bottom line? Thanks to the Boston Consulting Group, now you don't have to. It's estimated the net contributes a cool $684 billion to the US gross domestic product. That's roughly 4.7 percent of US GDP, the same tranche as its effect on Japan's economy, but less than the 5.5, 7.3 and 8.3 percent clocked in by China, South Korea and the United Kingdom, respectively. And per the report, the internet is just getting started, with future growth expected to hit eight percent on average by 2016 for developed countries, and well north of 20 percent in booming economies like those of Argentina and India. Hit the source for the full report.
Economic crisis may force CCP Games to leave Iceland
The global financial crisis is hitting many companies and individuals very hard. This is especially prevalent in Iceland, home of CCP Games -- the developers of the sci-fi massively multiplayer online game EVE Online. The collapse of Iceland's banking system and currency has been devastating to the nation. "Icelanders are reeling from the shock of having everything they knew virtually disappear overnight," Valur Gunnarsson reports from Reykjavik for The Guardian.Despite these economic woes, Hilmar V. Pétursson, the CEO of CCP Games, gave assurances all is well with the company back in October. He's stated that CCP is "well isolated" from the banking crisis, that their holdings and assets were diversified enough (due to partner relationships in different parts of the world) to stave off the ruin that many other Icelandic companies are facing. But there's a potential downside to that diversification: restrictions on access to foreign currencies have gone into effect in Iceland. Specifically -- as it relates to CCP Games -- on foreign investment coming into the country. Are these restrictions enough of a hassle that CCP Games would ever need to leave Iceland?
