Magazine article Screen International

Abu Dhabi Media Summit: Internet Driving Job Creation in Developing Countries

Magazine article Screen International

Abu Dhabi Media Summit: Internet Driving Job Creation in Developing Countries

Article excerpt

McKinsey's Tarek Elmasry says that in global terms, the Internet is the size of Spain; Arabic is fastest-growing language online.

The internet drives job creation in developing countries at twice the rate it does in developed countries.

This was the message from Tarek Elmasry, managing director, Middle East, McKinsey & Company, during his Abu Dhabi Media Summit address entitled Digital Economics.

In a brief presentation, Elmasry highlighted the internet's positive impact in driving employment and growing GDP: "We know that the internet increases productivity," he said. "But it also has a tangible impact on job creation."

"In the developed world, for every job reduced, 1.6 were created thanks to the internet. In the aspiring world, that number is double. This creates a lot of hope, excitement but also responsibility about how to harness this growth."

"Somewhere of between 2-3% of a country's GDP is created and only exists because of the internet. …

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