The present report sheds light into the economic benefits and dives deeper into the impact of Open Data at both macro and micro - economic levels. In doing so, it breaks down the broader pool of ‘data’ into Open (Government) Data and privately held data that is of public interest. It looks at the evidence available so far and provides an overview of the most recent research conducted in the field. It con-cludes with a call for action for further evidence that needs to be gathered, at both EU and country level. With such facts and figures, support can be rallying more easily from all European regions and sectors to accomplish the vision of a European Data economy based on the free flow of data across Europe that is anchored in strong regulatory and at the same time investment-enabling frameworks