Monday , December 4 2023
Mobile Sector Contributes 5% to Global Economy GDP, Creates 28 Million Jobs in 2022

Mobile Sector Contributes 5% to Global Economy GDP, Creates 28 Million Jobs in 2022

The Mobile sector has contributed 5% to the world economy in the year 2022. Globally, the sector added $5.2 trillion in economic value to the Global Economy GDP.

In “The Mobile Economy Report” published by Global System for Mobile Telecommunications Association (GSMA), productivity impacts generated the largest gains ($3.5 trillion), followed by mobile operators ($650 billion).

The mobile sector also contributed significantly to public sector funding, with about $530 billion raised through taxes on the industry. Employment taxes and Social Security came in second with $160 billion, and VAT, sales taxes and excise taxes generated $210 billion.

According to the GSMA, which represents the interests of over 400 operators worldwide, including those in Nigeria, mobile operators and the wider mobile ecosystem directly employ around 16 million people worldwide.

Additionally, it claimed that 12 million jobs were created in other sectors as a result of the ecosystem’s economic activity, which directly or indirectly supported 28 million jobs.

As countries around the world continue to benefit from increased productivity and efficiency brought about by mobile technology, the GSMA estimates that the contribution of the mobile sector will exceed $5.6 trillion by 2025 and $6 trillion by 2030.

According to research conducted by The Guardian, data from the National Bureau of Statistics (NBS) showed that ICT sector activities contributed 16.22% of Nigeria’s real gross domestic product (GDP) in the fourth quarter of 2022.

According to the NBS, the ICT sector is divided into four sub-sectors: publishing, motion picture, sound recording and music production, broadcasting, and telecommunications and information services. Compared to 15.35% recorded in Q3 2022 and 1.01% for the same period in 2021, Q4 2022 grew by 0.87%.

to the bureau, ICT is expected to contribute a total of 16.51 percent of the country’s GDP in 2022 as against 15.51 percent in 2021. Real growth rate of the sector 10.35%.

The overall contribution of the ICT sector to nominal GDP in the fourth quarter of 2022 was set at 10.42 per cent, higher than the rate of 9.98 per cent seen in the corresponding quarter of 2021 and 9.58 per cent in the previous quarter.

The telecoms organization said the most recent analysis showed the mobile sector increased its impact on all SDGs in 2021, with an average year-on-year increase compared to 2020.

It also noted that the average SDG impact score reached 53 across 17 SDGs, up from 49 in 2020 and 32 in 2015 (measuring the mobile industry’s 53% achievement that it can potentially contribute to the SDGs).

The GSMA reports that, compared to six SDGs in 2020 and none in 2015, mobile sector now accounts for more than 50 percent of 11 SDGs.

It claimed that the mobile industry continues to have the greatest impact on SDG 9: Industry, innovation and infrastructure, due to the increasing number of mobile network penetration and mobile internet services.

The GSMA reported that SDGs 1: No poverty, 2: Zero hunger, and 4: Industry contribution to quality education showed the greatest improvement.

It claimed that this is because a large number of people are using mobile devices to access services provided by the government, search and apply for jobs, and obtain information about their own or their children’s education. Are.

According to the mobile sector report, the affordability of mobile data and devices has also improved. This comes after affordability deteriorated as a result of the COVID-19 pandemic’s decline in per capita income in 2020.


About Bukola Olanrewaju

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