This study showed how cloud computing is likely to make Europe more efficient and productive and how, in turn, this is likely to generate jobs and enhance Europe’s economic growth. Cloud computing will, therefore, as one of the major means of maximising the bang for buck in modern IT investment, need to be a key driver of European business investment which will, in turn, drive the economy forward.
This study illustrates the increase in corporate profitability that results from cloud computing adoption, which drives investment through the re-investment of retained profits, but also stimulates domestic demand, through the spending of greater amounts of shareholder dividends and wages in the wider economy. This, in turn, supports growth and employment.
What the study demonstrates is that, not only is cloud computing an important issue from the micro perspective of boosting the efficiency of individual companies’ IT investment and, hence, general corporate productivity, but also that, especially in the present uncertain economic climate, it will also be a critical macroeconomic factor that is crucial for boosting Europe’s economic growth. As such, the study is an important contribution outlining one of the most important ways that European economies can revive and emerge from the economic crisis.