Online biz boom to create many jobs: Google exec

LONDON, UK: Thousands of jobs will be created in Britain in the next five years because of the boom in online business, a top Google official has said.

Philipp Schindler, the London-based vice-president of Google Europe, said that around 365,000 jobs could be created by 2015 as more online firms emerge, the Daily Mail reported.

He said the British government must promote innovation within the online business sector and encourage firms to sell their products abroad.

Schindler based his estimates on gross domestic product (GDP) forecasts in Britain between 2011 and 2015.

He said that in an economy like Britain, the internet was responsible for a fifth of GDP growth.

GDP refers to the market value of all final goods and services produced in a country in a given period.