Goldman Sachs produced a great report in in April of 2006 that discusses the advancements in European adoption of internet use and the emergence of European based web services to satisfy those customers. The report looks over a number of years of web traffic and offers a view of the future as to the use and surfing habits of Europeans.
The interesting piece of the report is the review of the various European social networks that we do not hear much about here in the US. I was very excited to learn about the diversity of the field and the growth of some of the various networks. Download Goldman_Sachs_-_European_Internet_Sector_Overview1_1159293.pdf