Facebook adds estimated $227B to global economy

Facebook’s friends have a lot to like.

According to new analysis from the consulting firm Deloitte, the social network injected $227 billion into the global economy and created 4.5 million jobs last year, not counting its own operations. In the U.S., the company had an estimated economic impact of $100 billion and created more than 1 million jobs.

{mosads}“Facebook’s broad economic impact enables far more revenue and jobs for global and local economies than Facebook’s own company operations,” analysts wrote.

The report looked at ways that outside companies use Facebook in order to expand or run their businesses.

An estimated $148 billion were created through the added marketing that companies can do on Facebook. 

Developer tools that enable apps to work added another $29 billion, while consumers’ purchase of devices motivated by Facebook made up an additional $50 billion.

Backers of the tech sector are likely to trumpet the findings as evidence of the massive impact that their companies have on the economy.

“The good news is that the tech industry is powering the economy and creating jobs within and beyond its own campuses,” Facebook’s Chief Operating Officer Sheryl Sandberg said in a statement. “Every day, businesses of all sizes, sectors, and skill sets are using the Facebook platform to grow and expand.”