|

Business

Mobile Internet buoys the economy

Friday, October 05, 2012



PARIS, France — The information and communication technology (ICT) sector has resisted the economic crisis and is becoming a key infrastructure for the world's economy, the Organisation for Economic Cooperation and Development (OECD) said yesterday.

"The expansion of mobile Internet connectivity has helped buoy the ICT sector, and in many ways the economy as a whole, during a period of sustained economic malaise," the OECD said in a report based on a study of 250 top ICT firms.

"The Internet is becoming a key economic infrastructure, revolutionising businesses and serving as a platform for innovation," the Paris-based organisation of 34 leading industrialised countries.

The top firms registered an average annual growth rate in revenue of six per cent between 2000 and 2011, with total revenue at more than US$4.6 trillion ($411 trillion) in 2011, or an increase of five per cent over the previous year.

A key source of the growth has been an expansion of mobile connections, which overtook the number of fixed broadband subscriptions in 2009. In 2011, the estimated number of mobile subscriptions among OECD countries was at 667 million, or more than double that of the 315 million fixed connections.

— AFP



Lash by Lash, Lavish fuses

 

Are you financially focused?

 

8 ways to cut your grocery bill

 

Campus hustle to corporate: Balcostics helping big business with intelligence

 

Ideas for keeping your data safe from spying

 

Economics 101: How the economy affects me

 

Google launches Internet-beaming balloons

 

VIDEO: Fusing 2 dreams into a café

 

Digicel announces rate drop

 

Carib Cement weighed down by scale

 

LIME claims 20,000 two-day haul

 

The value of the dollar is just a symptom of Jamaica's underlying problem

 

Example of excellence in the public sector

 

Marketing duo takes leap of faith

 

JN Foundation project gets $100-m boost

 

VIDEO: SMS: from paint to smartphones

 

From Trinidad to the world: Food Awards pushing Caribbean cuisine global

 

Sagicor Investments receives credit rating boost from CariCRIS

 

LIAT takes to the skies with new planes

 

T&T Gov't gets support for multibillion-dollar supplemental budget

 

Today's Cartoon