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21:00 24th January 2012
Facebook contributes an estimated £2.2 billion to the UK economy each year, according to a new study commissioned by the social networking giant.
Conducted by Deloitte, the research concluded that the website brings in £12.7 billion for the GDP of economies across the European Union and supports 232,000 jobs.
The data was presented by Facebook's chief operating officer Sheryl Sandberg at the DLD digital media conference in Munich today.
She described the figures as evidence that the website, which now has approximately 800 million active users, is "about a lot more than sharing pictures or keeping up with friends".
Ms Sandberg commented: "Increasingly, social media means growth and jobs."
According to the Deloitte report, the 'App Economy' that sprung up in response to the millions of people interacting on Facebook is already worth about £467 million a year in Britain alone.
The researchers estimated that companies involved in the development of Facebook apps and games generate about 7,500 jobs in the UK.
Posted by Derek Oldman
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