According to the University of Texas at Austin’s Center for Research in Electronic Commerce, after generating $322.5 billion of revenue in 1998, the Internet economy skyrocketed to $523.9 billion in 99, an increase of 62%.
In 2000, annual revenue is projected to grow to $850 billion, another 62% jump.
At this level, the center noted, the Internet economy would exceed the annual revenue of the automotive industry.