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Cloud computing to boost EU economy by €750bn

Ian Grant

Retailers are likely to benefit more than twice as much as manufacturers as cloud computing boosts the European economy by more than €750bn over the next five years, say researchers.

The Cloud Dividend study commissioned by EMC and the Centre for Economics and Business Research (Cebr) focused on key industry sectors in France, Germany, Italy, Spain and the UK.

Researchers said more than €233bn in value would be created in distribution, retail and hotels sectors via cloud computing.

Manufacturing would benefit by €98bn, the lowest of the sectors studied, but would create up to 514,000 new jobs across Europe, researchers said.

Researchers said a total of €763bn could be generated by 2015, and millions of new jobs created, through the expected adoption of cloud computing across a range of industries in some of Europe's key economies.

Banking, financial and business services would also cash-in, and cloud computing would create more than 800,000 public sector jobs across EMEA, they said.

Cumulative Economic Benefits 2010 - 2015
Industry Sectors EMEA (€m) Jobs (000s)
Distribution, retail and hotels 233,418 355
Banking, financial and business services 183,566 207
Government, education and health 112,539 801
Manufacturing 98,504 514
Other sectors 135,271 519
Total 763,297 2,396

Source:EMC/Cebr

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