In a more open and connected world, it’s not just easier for friends and family to stay in touch. New economic opportunities are being created too.

A new report by Deloitte, titled Facebook’s Global Economic Impact, analyzes how Facebook’s marketing, platform, and connectivity effects have facilitated growth and jobs around the world. Commissioned by Facebook, the study estimates that the company, with an approximately $8 billion cost base, enabled global economic impact of $227 billion and 4.5 million jobs around the world in 2014.

More specifically, Deloitte’s report looks at how Facebook stimulates economic impact by providing 1) tools for marketers; 2) a platform for app developers; and 3) demand for connectivity, meaning data usage and mobile devices. The study is an update to Deloitte’s 2011 European report on the subject and now includes an analysis of other regions and countries.

Jolyon Barker, Deloitte’s Global Managing Director, Technology, Media & Telecommunications, says of the report, “Our study finds that Facebook enables significant global economic activity by helping to unlock new opportunities through connecting people and businesses, lowering barriers to marketing, and stimulating innovation.”

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

More information and a copy of the report can be found on Deloitte’s website.

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