New ITU study on how broadband, digitisation, and ICT impact global economy
The International Telecommunication Union (ITU) published a new study on how broadband, digitisation, and information and communication technology (ICT) regulation impact the global economy. The study hinges on econometric modelling in examining two major components relevant to those concerned with investment decisions in ICT and the digital ecosystem over the coming decade. To this aim, it addresses three key questions: how fixed and mobile broadband are impacting the economy, how digitisation contributes to the economy, and how policy and regulatory frameworks affect market growth in digital services and applications. The key findings of the study include:
- Developing countries should implement policies to maximize mobile broadband adoption, as the main digital technology contributing to economic development.
- Industrialised nations should adopt policies which favour fixed broadband penetration as a key contributor to their economic growth.
- Beyond broadband, all countries should aim to increase the development of digitisation, which encompasses not only infrastructure deployment but its usage to foster the digital transformation of industries and improve consumer wellbeing.
- Regulatory and institutional maturity in the ICT arena do indeed make a significant difference – and are important in driving the growth of digitisation.