Facebook ‘has global economic impact of €196bn’

Facebook is having a major impact on the global business landscape, a new report has found.

A report commissioned by Facebook and carried out by Deloitte estimates that the social network — which has an online community of 1.35 billion — had a global economic impact of $227bn (€196bn) worldwide and facilitated the creation of 4.5 million jobs in 2014.

The EU benefited to the tune of $51bn (€44bn) and 783,000 jobs, while the US reaped the greatest rewards, accounting for $100bn of the total impact and more than a million new jobs.