Internet economy in Greece trails far behind other European countries but through well-targeted initiatives by the public and private sector it could contribute to the economic growth and create new job positions in the future, according to a report made public on Thursday prepared by Boston Consulting Group (BCG) on behalf and with the support of Google.

The report, unveiled during a special event in Athens Concert Hall (Megaron) in the presence of politicians and businessmen, attempted for the first time to identify the value of the Internet economy in Greece. The report revealed that the Greek Internet economy contributed roughly 2.7 billion euro in 2010 representing 1.2 pct of the Greek GDP, much lower than the EU average of 3.8 pct of the GDP or Turkey's 1.7 pct.

According to the report, the economic crisis has an impact on the Internet sector slowing down its growth. It estimated that the domestic Internet economy will increase with an annual rate of 6 pct reaching 3.6 billion euro or 1.6 pct of the GDP in 2015. However, according to a more optimistic scenario, the average annual growth could reach 19 pct in 2015, corresponding to 2.9 pct of the GDP (an additional 2 billion euros), if measures are adopted to support the sector of digital economy.

The report shows that the Greeks have not embraced the Internet as much as other countries. Among others it is revealed that Greece imports services and goods via e-commerce worth 1.8 billion euro, while its exports are just 0.7 billion euro, namely, 1 euro of exports for every 2.6 euro of imports. This is due mainly to the fact that 57 pct of the Greek consumers prefer to make their purchases abroad because they cannot find the goods they want in Greek sites.

The Greeks feel insecure when making their buys online and prefer shopping in actual stores. However, there were examples of companies such as, airtickets.gr, skrutz.gr among others, that even amidst the crisis have managed to show an upward course with sales in the country and abroad which is attributed to the extensive and proper use of Internet options.

Another notable exception is the relatively high percentage of Internet users who have accessed the Internet on their mobile handset, 30 pct, close to the EU average of 36 pct.

The report outlined five proposals aimed at boosting Internet economy in Greece, namely, encourage small and medium size enterprises to offer online services and accelerate the release of 1.5 billion euros in National Strategic Reference Framework NSRF funds; improve infrastructures; boost the confidence of Greek consumers; expand e-government and invest in digital media education.

The Boston Consulting Group (BCG) is a global management consulting firm and a leading advisor on business strategy.