As social connectivity sites play increasingly bigger roles in business, sites such as Facebook have contributed to a large creation of jobs around the world.
In 2014, Facebook generated a global impact of $227 billion and triggered job growth of 4.5 million, according to study conducted by Deloitte.
“We analysed the contribution Facebook supports as a catalyst for economic activity in ecosystems composed of marketers, app developers, and providers of connectivity,” the Deloitte report stated.
The report estimated that the marketing effects of Facebook in 2014 enabled $148 billion of economic impact and created 2.3 million jobs globally.
The jobs are not created within Facebook, the study states, but as direct or indirect jobs such as social media marketers and developers on platforms built atop Facebook.
The platform effects of Facebook, or the economic impact from 3rd party products and services, enabled $29 billion of economic impact and generated 660,000 jobs worldwide.
1.6 million jobs were also created last year via Facebook’s connectivity impact, which measured the impact of Facebook‑motivated internet use and purchases of devices. The Asia Pacific region profited the most from such connectivity-related impacts, with 680,000 jobs being created in the region last year.
“As of June 2014, more than 30 million small and medium‑sized businesses have established a Facebook Page, and more than 1.5 million companies actively use Facebook’s targeted advertising system to reach potential customers,” the report stated.