The internet industry is looking strong and is not as likely to be affected by the current economic downturn in the US as other sectors, according to a group of experts.
More people are choosing to do their shopping and business online, meaning the industry should remain strong, said a group of business people and commentators, reports IDG News Service.
Rob Atkinson, president of the Information Technology and Innovation Foundation, said that e-commerce is growing four to five times faster than traditional retail and that there is little sign of a downturn in online sales.
Hal Varian, Google's chief economist, supported these views, telling the website: "Yes, we are seeing an economic slowdown. No, we're not seeing an Internet slowdown."
Forrester Research shows that online retails sales increased by 21 per cent in 2007 compared to the previous year.
Mr Varian added that while some advertising may suffer in the current climate, internet forms are set to increase.
Gartner, the research firm, predicted recently that the economic downturn will cause a rise in offshoring, to cut a company's costs.
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