Just a decade ago, social networking websites were dismissed as a passing fad.
But with more than one billion users, Facebook has gone from a trend to a must-have for individuals and companies.
Roughly half of all adults in the U-S and the U-K have accounts on sites like Facebook, Twitter and LinkedIn.
In China, Weibo and Tencent’s Q-Zone host more than 500 million users each.
And that number will probably go even higher this year.
A European Travel Commission report shows the number of social media users in Asia, the Middle East and Africa is expected to grow more than 15% in 20-14.
Right now, Argentineans, Brazilians and Russians outpace the rest of the world on engagement.
They spend about 10 hours on social media sites each month.
For more on why Facebook, Twitter and other social networking sites have become such a big part of our lives, Phillip Yin spoke to Mikolaj Jan Piskorski, associate professor at Harvard Business School. He also wrote the book ‘A Social Strategy: How We Profit from Social Media’