European e-commerce still growing, says report
European e-commerce is growing steadily, according to a new report.
Copenhagen-based analysts IDC estimate 117 million Europeans - some 30% of the entire population - were using the web by the end of last year.
They predict the sector will ride out the economic slowdown to surpass a valuation of $1 trillion by 2004.
"The dotcom shakeout has done nothing for the reputation of the internet and e-business as a whole," said analyst Daniel O'Boyle Kelly.
"However it has allowed both consumers and companies to develop more realistic expectations of what can be accomplished."
The report cites statistical evidence for its upbeat tone, including figures showing Europeans spent $12.2bn online in 2000, approximately double the tally for the previous year.
Nevertheless IDC predict business-to-business e-commerce will ultimately drive sustained growth as businesses embrace the internet in greater numbers "as a way of increasing productivity and reducing costs" .
