The mobile sector contributes $5,2 trillion to the global economy

The mobile sector contributes $5,2 trillion to the global economy

In 2022, mobile technology and services will add $5.2 trillion to the global economy, or 5% of the total. The highest benefits were caused by productivity effects ($3.5 trillion), followed by mobile operators ($650 billion).

According to the Global System for Mobile Telecommunications Association (GSMA), in its "The Mobile Economy Report" released on Monday, the mobile sector also made a major contribution to public sector financing, with around $530 billion earned from taxes on the business.

With $160 billion, Social Security and employment taxes came in second, while VAT, sales taxes, and excise taxes brought in $210 billion. The GSMA, which represents the interests of over 400 operators globally, including those in Nigeria, estimates that the global direct employment of mobile operators and the broader mobile ecosystem is somewhere between 16 and 17 million.

It further said that the economic activity of the ecosystem, which supported 28 million employment directly or indirectly, resulted in the creation of 12 million jobs in other industries.

The GSMA predicts that mobile will contribute more than $5.6 trillion by 2025 and $6 trillion by 2030 as nations throughout the globe continue to gain from increasing productivity and efficiency brought about by mobile technology.

The National Bureau of Statistics (NBS) statistics indicated that ICT sector operations generated 16.22% of Nigeria's real gross domestic product (GDP) in the fourth quarter of 2022, according to research done by The Guardian.

Publishing, motion picture, sound recording, and music creation, broadcasting, and telecommunications and information services are the four sub-sectors that make up the ICT sector, according to the NBS. Q4 2022 had growth of 0.87% compared to 15.35% in Q3 2022 and 1.01% in the same quarter in 2021.

ICT is anticipated to make up a total of 16.51 percent of the nation's GDP in 2022 as opposed to 15.51 percent in 2021, according to the bureau. Sector real growth rate: 10.35%.

The IT industry as a whole contributed 10.42 percent of nominal GDP in the fourth quarter of 2022, up from 9.98 percent and 9.58 percent, respectively, in the comparable quarters of 2021 and 2021.

The telecommunications group said that according to the most current study, the mobile sector would have a greater effect on all SDGs in 2021 than it did in 2020, increasing on average year over year.

Also, it was stated that the average SDG impact score across 17 SDGs increased to 53 from 49 in 2020 and 32 in 2015, representing the mobile industry's 53% success in possibly advancing the SDGs.

According to the GSMA, mobile currently contributes to more than 50% of the 11 SDGs, up from less than 50% in 2015 and just six SDGs in 2020.

Due to the rising rates of mobile network penetration and mobile internet services, it was suggested that the mobile sector continues to have the largest influence on SDG 9: Industry, Innovation, and Infrastructure.

SDGs 1: No Poverty, 2: Zero Hunger, and 4: Industry Contribution to Quality Education demonstrated the most progress, according to the GSMA.

This, according to the report, is due to the huge number of individuals who use mobile devices to access government services, look for employment, submit applications, and learn about their own or their kids' educational options. Are.

The survey claims that mobile data and gadgets are now more reasonably priced. As a consequence of the COVID-19 pandemic's drop in per capita income in 2020, affordability has already become worse.