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Annalyn Censky, CNNMoney

NEW YORK The Internet contributes more to the American economy than the entire federal government, according to a new study by the Boston Consulting Group.

The Internet accounted for $684 billion, or 4.7% of all U.S. economic activity in 2010, Boston Consulting Group found. By way of comparison, the federal government, contributed $625 billion, or 4.3%, to the nations output.

If it was considered its own separate industry, the Internet would also be larger than Americas education, construction or agricultural sectors.

In the retail sphere alone, e-commerce accounted for 5% of U.S. sales in 2010.

All businesses are increasingly digital and need to think about how to take advantage of these opportunities, said Dominic Field, a BCG partner and co-author of the report. And for policymakers, we would hope they recognize the importance of Internet growth and making sure their countries are taking advantage of these opportunities.

As a share of gross domestic product, only three countries have larger Internet economies: the United Kingdom, South Korea and China. The U.S. is tied with Japan.

Boston Consulting Group predicts the Internet will grow about 10% a year through 2016 in the Group of 20 nations. It will grow nearly twice as fast in emerging markets as in developed economies, with Argentina and India accounting for the fastest growth, the study said.

The U.S. is relatively mature as an Internet economy, whereas some of the developing economies are further behind so their growth rates are higher, Field said.

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Internet Accounts for 4.7 Percent of US Economy

ROCHESTER, Mich., March 21, 2012 /PRNewswire/ -- Jonathan Gregory, a 23-year-old entrepreneur and marketing prodigy, creates an Internet marketing agency rated in the top 1% by Elance, the world's leading platform for online employment. Gregory's Internet marketing agency, The Third Agency, specializes in professional Google AdWords campaign management and strategy development.

Internet marketing remains the frontier to conquer for companies planning to grow their business and generate more sales. Jonathan Gregory, a 23-year-old entrepreneur, is one of the few young minds to pioneer and harness the power of this complex market, quickly growing his Internet advertising agency to one that's rated in the top 1% by some of the world's leading companies.

The Third Agency, the marketing company founded by the 23-year-old, specializes in developing and managing online advertising campaigns using Google's flagship Internet advertising platform, Google AdWords. The agency provides professional services to companies and firms that want to drastically expand the reach of their marketing efforts and generate more sales, creating highly customized AdWords campaigns that effectively display client advertisements to the more than 600 million people that use Google on a daily basis.

When asked about the benefits of The Third Agency's services, Gregory was very knowledgeable and clear on his position. "The beauty of Internet advertising, particularly cost-per-click, is that the required risk for our clients is extremely minimal and the type of advertising we provide usually ends up paying for itself. Our clients can almost immediately see a return on their investment without experiencing the added risk of tying up large amounts of capital. Our clients only pay when potential customers view and click on their advertisements, resulting in a highly effective way of reaching new customers and generating additional sales," Gregory stated. "There aren't many advertising methods in the world of marketing that are as effective and known to produce profitable results as well as Internet advertising through Google AdWords."

Gregory doesn't just talk the talk. The Third Agency is rated among the top 1% in the world for professional Internet marketing services according to Elance, receiving a perfect score on Elance's extensive Internet marketing exam. Elance remains the world's largest platform for finding qualified professionals who work online from all corners of the globe, making this accomplishment extremely difficult to achieve. Successful placement within the top percentile in a highly competitive, globalized industry like Internet advertising is a notable feat for any advertising agency, especially one headed by a 23-year-old. In less than one year, Gregory has managed to rapidly grow The Third Agency into a worthy competitor amongst some of the greatest in Internet advertising. It's like training less than a year for the Olympics and taking home the gold. It just doesn't happen.

The Third Agency is an international, award-winning Internet marketing agency that specializes in professional Google AdWords campaign management, Internet advertising campaign development and AdWords consulting services. http://www.thethirdagency.com

Contact: Jonathan Gregory The Third Agency (248) 247-2402 http://www.thethirdagency.com

This press release was issued through eReleases(R). For more information, visit eReleases Press Release Distribution at http://www.ereleases.com.

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23-Year-Old Starts Internet Marketing Agency Rated in Top 1%

NEW YORK, March 20, 2012 /PRNewswire/ -- New York is not just the city that never sleeps it's the city that's always online. Time Warner Cable commissioned a study asking New Yorkers in all five boroughs how important high-speed Internet is to them, how they use it, when they use, why they use it and what they know about it.

(Photo: http://photos.prnewswire.com/prnh/20120320/NY72993)

Turns out, Internet ranks higher than NYC staples like coffee, bagels, taxi rides even air conditioning!

5 Boroughs, 5 DevicesNew York households have an average of 5 devices connected to the Internet.

NYC Essentials: Connectivity vs. CoffeeIf they had to choose one thing to live without New Yorkers would give up their coffee (32%) and good bagels (30%), but almost nobody would give up fast Internet (3%).

Better a Blackout than Being OfflineIn case of severe weather, more New Yorkers would miss the Internet (26%) more than the lights (12%), TV (15%), or the fridge or freezer (12%).

Cut Budgets, Keep Internet If they had to cut back, New Yorkers would give up taxi rides (80%), magazines (63%) and even their cell phone service (14%) at higher rates than they're willing to cut back on Internet service (7%).

The City That Never Sleeps is Always OnlineNew Yorkers spend the day with the Internet. Two-thirds (67%) of New Yorkers use the Internet at home in the evening, half use it late at night (52%) or at home doing work during the day (51%) and four in ten New Yorkers use the Internet as soon as they wake up (43%).

Movies: In Line or Online?Although half of all New Yorkers (51%) would wait for 15 minutes to see a movie in a theater; only two in ten (18%) would wait 15 minutes to download a movie online.

MVP: Most Valued PresentThree times as many New Yorkers would want a game console that connects to the Internet (18%) than a puppy (6%) as a gift.

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NYC Values High-Speed Internet Highest Among Everyday Necessities

LONDON (AP) As Usain Bolt races down the Olympic track, will London's Internet infrastructure be able to keep up?

Let's hope so.

Experts say the network should be able to cope but they warned of sluggishness during peak times and said an unexpected surge could easily push the system over the edge.

British Olympic Association chief executive Andy Hunt has predicted that the 2012 Olympics will be the "Twitter Games," and those responsible for London's network of fiber optic cables, phone masts and Wi-Fi hotspots are bracing for a data deluge as the events get under way.

"There is the potential for a massive hit on the infrastructure," James Blessing of Britain's Internet Service Providers Association said.

Mobile company Vodafone said it also expected a data tsunami, saying "this summer it's going to be the equivalent of England playing in the World Cup final on Christmas Day, every day for the 17 days of the games."

Network engineers face a one-two punch: One is the influx of smartphone-wielding spectators, many eagerly updating their Facebook status from the Olympic Stadium or keeping up with the medal tally on Twitter. The second is unprecedented flow of video being streamed live to the Internet by Britain's national broadcaster, the BBC.

The combination has the potential to snarl Internet traffic. Olympic planners have already told London businesses to prepare for sluggish service during the games or even interruptions "in very severe cases." Data rationing remains an option, even if those involved played down the possibility.

Nationally, one of the biggest contributors to the Internet surge is expected to be the BBC, which plans to provide live coverage from up to 24 locations besides its three main channels of edited content. The broadcaster predicts that the footage, streamed to computers across Britain, will help generate a terabit (1 trillion bits) per second of traffic at peak times the equivalent of 1,500 people downloading a feature-length DVD-quality movie every minute.

"It's between five and 10 times their normal output," Blessing said.

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Olympics to strain UK Internet infrastructure

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Americans are more connected than ever -- at least to the Internet.

A new survey by The Boston Consulting Group (BCG) attempts to quantify just how much we value access to the World Wide Web and its findings are somewhat surprising.

Asked what they would give up for a year in order to maintain access to the Internet, 77 percent of Americans said they'd forgo chocolate, 73 percent alcohol, 69 percent coffee and 21 percent said they would go a whole year without sex.

BCG also tried to determine in dollar terms the worth of the Internet for most people living in the U.S. As it turns out, U.S. consumers would need to be paid roughly $2500 to live without the Internet for one year.

What do Americans value the most about the Internet? General search, e-mail and access to online banking and investing.

Dominic Field, partner at BCG and author of "The Connected World: The $4.2 Trillion Opportunity," joined The Daily Ticker to discuss the report, which aims to uncover the impact of the Internet economy on the U.S. and global economies.

As you might imagine, the size and scope of the web and its uses and users are multiplying fast. There are currently 1.6 billion global Internet users today and by 2016 the number is expected to nearly double to 3 billion, or half the world's population, says Field.

Today the Internet contributes $2.3 trillion to the global economy and is expected to grow to $4.2 trillion in about four years.

The Internet contributed $648 billion to the U.S. economy in 2010, or 4.7% of GDP; more than in any other country. To put that in perspective, the Internet economy is the eighth-largest sector in the U.S. and ahead of the Federal Government. Today, the Internet economy is growing at 6.5% a year in the U.S., one reason BCG believes this sector could eventually help propel the country out of recession.

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Internet Access More Important Than Sex, Alcohol: BCG Study