Share this story!
Social media is not only used to keep in touch with family and friends or share whatever is going on in your life. It's also a place where businesses can find customers.
Before social media it was much harder and much more expensive for a small company to find customers both in the local area, but especially abroad. A newspaper ad is usually not very effective in targeting the right audience. And if you run a business in the US, how you find the right newspaper for your ad in Spain?
With massive platforms like Facebook, that is much easier. And that is what Copenhagen Economics has tried to measure in Europe.
Representatives from 7,720 businesses in 15 countries across the EU responded. They say that using Facebook apps and technologies helped them generate international sales corresponding to an estimated €98 billion ($108 billion) in exports last year.
In total their use of Facebook technologies generated an economic activity of €208 billion ($230 billion) last year. Using standard economic modeling techniques, this translates into an estimated 3.1 million jobs, Copenhagen Economic says.
The study is commissioned by the Facebook Company.
Thank you to Joakim Jardenberg for the news tip.
Want to get a dose of fact-based optimism in your mailbox once a week? Don't miss subscribing to our newsletter.
Warp News is run by the nonprofit Warp Institute, headquartered in Stockholm, Sweden and Raleigh, North Carolina, United States.
The world is better now than ever before! But most people still have a negative view of the future. We think one important reason is the negative bias in news media.
Warp News balances that by delivering fact-based optimistic news.