Online trading helps in economic growth
At a time of slowed growth and continued volatility, many countries are looking for policies that will stimulate growth and create new jobs. Information communications technology ICT is not only one of the fastest growing industries — directly creating millions of jobs — but it is also an important enabler of innovation and development.
The number of mobile subscriptions 6. In this new environment, the competitiveness of economies depends on their ability to leverage new technologies.
Here are the five common economic effects of ICT. The ICT sector is, and is expected to remain, one of the largest employers. In Australia, building and running the new super-fast National Broadband Network will support 25, jobs annually.
Naturally, the growth in different segments is uneven. In the US, for each job in the high-tech industry, five additional jobson average, are created in other sectors. Findings from various countries confirm the positive effect of ICT on growth.
In China, this number can reach 2. The doubling of online trading helps in economic growth data use caused by the increase in online trading helps in economic growth connections boosts GDP per capita growth rate by 0. The Internet accounts for 3. Most of this effect is driven by e-commerce — people advertising and selling goods online. Numerous public services have become available online and through mobile phones.
The transition to cloud computing is one of the key trends for modernization. ICT has enabled the emergence of a completely new sector: The contractors are often based in emerging economies. Microwork platforms allow entrepreneurs to significantly cut costs and get access to qualified workers.
InoDesk alone had over 3 million registered contractors who performed 1. This trend had spillover effects on other industries, such as online payment systems. ICT has also contributed to the rise of entrepreneurship, making it much easier for self-starters to access best practices, legal and regulatory information, marketing and investment resources.
The Internet provides them with new ways of reaching out to customers and competing for market share. Over the past few years, social media has established itself as a powerful marketing tool. ICT tools employed within companies help online trading helps in economic growth streamline business processes and improve efficiency. The unprecedented explosion of connected devices throughout the world has created new ways for businesses to serve their customers.
Direct job creation The ICT sector is, and is expected to remain, one of the largest employers. Emergence of new services and industries Numerous public services have become available online and through mobile phones. Financial and Monetary Systems View all. Where in Europe have wages fallen most? Adam Jezard 03 Online trading helps in economic growth Beware the fragility of the global economy Alberto Gallo 23 Mar