Telecompenetration fuels GDP growth
A recent study by Analysys Mason demonstrates that each percentage-point increase in mobile broadband penetration could contribute an estimated INR162 billion (EUR 2.6 billion) to India’s GDP by 2015. Mobile broadband deployment across rural and urban areas is the most scalable and cost-effective means to deliver a variety of social and economic benefits to India. Increased mobile broadband penetration trigger the creation of new revenue streams in the consumer and retail, financial services, social services (such as education and healthcare), and other corporate/vertical sectors. The report's findings also reveal the impact that broadband connectivity has on economic productivity across industry sectors and the benefits it will deliver to the people.
On a more global basis, the World Bank published a study demonstrating that increasing 10% mobile-phone penetration increased the GDP per person by 0.8% points. Benefits of increased mobile penetration include productivity gains to individuals, productivity gains to businesses, inclusive financial services such as remittances, empowerment of poor, women empowerment and security, …
As an industry in direct relation with both the mobile industry and the financial worlds, the secure transactions community has a role to play in economic development.