|Sector:||Competition, Regulation and Business | Privacy and security | Productivity, Innovation and New Economy|
|Tagged:||cost-benefit analysis impact assessment qualitative analysis quantitative analysis stakeholder surveys and consultations Wales|
The report forms part of a 2-part study focused on the potential economic benefits that would arise from the introduction of sub-national, geographically specific top-level domains (“geo-TLDs”) in London and Wales. The study explores the transmission channels for possible economic costs and benefits based on a review of current research, a consultation with industry associations, entrepreneurs, public bodies and academic experts and survey evidence. Two surveys of consumers and businesses in Wales were commissioned to collect up-to-date information, specifically on the likely response of consumers to new geo-TLDs. The data was used to derive quantitative estimates of the revenues potentially at stake following the introduction of new geo-TLDs. It was found that a majority of consumers would react positively to new geo-TLDs due to increased in trust and positive associations with the Wales ‘brands’. The potential shift in revenues to firms using the new TLDs is found to be substantial (£8.6 billion and £2 billion per year respectively in London and Wales).