Investment in information and communication technology (ICT) and the Internet has the potential to boost job creation and economic growth during the current economic crisis, according to the International Chamber of Commerce (ICC), but opportunities for these technologies must be appropriately harnessed for this to take place.
ICC Commission on Digital Economy this week released ICTs and the Internet’s impact on job creation and economic growth, a tool designed to help policy makers seize opportunities to improve economic conditions.
Findings from studies collected in the paper show a positive correlation between investment in the Internet and other ICTs, and an increase in economic activity. High-speed networks and ICT services not only create a platform for this activity, but also improve the competitiveness of an economy.
The studies show that this potential for growth is even more substantial in developing countries. For each 10 percentage-point increase in high speed Internet connections there is an increase in economic growth of 1.38 percentage points for developing countries, according to research from the World Bank.
ICC urges policymakers to maintain a commitment to policies that will promote investment in the Internet and ICTs, which in turn will support sustainable economic growth and recovery.
Read more and download a copy of the report on ICC’s website
Staff contact: Barbara Wanner