• by April 10, 2001

A new eEurope Report from eMarketer forecasts 108 million Europeans will be "active internet users" by year-end 2001, a 54% increase from the 70 million online recorded in 2000. The report projects 255 million Europeans will actively be online by 2004.

"The European online community reflects a moderate slowdown in the global economy from the past few high-growth years," said Nevin Cohen, eMarketer senior analyst. "However, if the US faces a more serious-than-expected recession this year, internet penetration in Europe is likely to proceed much more slowly, particularly in large portions of the region with nascent market economies."

The eEurope Report reveals that European e-commerce will generate $69 billion by 2001, an increase of 103% from the $34 billion recorded last year. That figure is expected to rise to $980 billion by 2004.

"This rapid expansion of e-commerce activity depends on increased investment in information technology, steadily increasing internet access, and public policies to make e-business more secure and appealing," said Cohen.

The report says that the expansion of Internet penetration in Europe will fuel the growth of e-advertising in this region in the next few years. Total e-advertising expenditures will reach $6.4 billion by the end of 2005.

Also, 7.2 million persons were managing their current and savings accounts through online banking services in Western Europe last year, accounting for nearly 14% of all internet users. By 2004, nearly 18% of Internet users will bank online -- at least partially -- totaling 15.2 million.

Given the growing ubiquity of wireless phones in Europe, eMarketer estimates that by 2003, Europe will account for the highest number of worldwide wireless web users.