By Allen Tsai | Thu Oct 06, 2005 2:20 am |
The wireless telecommunications industry provides millions of jobs for Americans, contributes billions of dollars to the United States' economy and is expected to become a larger part of the U.S. economy than the agriculture and automobile sectors within five years, according to a report released today by Ovum, an international telecom analyst and consulting firm.
The independent report, commissioned by CTIA-The Wireless Association, says 3.6 million jobs were directly and indirectly dependent on the U.S. wireless telecommunications industry in 2004.In that same year, the wireless industry generated $118 billion in revenues and contributed $92 billion to the U.S. Gross Domestic Product (GDP). If the wireless telecommunications industry were a country, its economy would be bigger than that of Egypt, and would rank as the 46th largest in the world, as measured by GDP. "As wireless becomes the consumer's primary means of staying in-touch and connected, it has also emerged as a significant economic engine that employs millions of Americans," said CTIA-The Wireless Association President and CEO Steve Largent. "This study is strong evidence that lightly regulated, competitive markets are the most efficient and cost effective way to deliver consumers the innovative products they want and need, and in doing so, the industry is able to create enormous economic benefits in the form of job creation and tax revenue," continued Largent. According to one of the study's authors, Roger Entner of Ovum, U.S. wireless consumers enjoy far lower rates than users in other parts of the world. "The use of wireless telecommunications services in the United States generated a consumer surplus of $157 billion per annum in 2004," said Entner. "Were U.S. carriers to charge at European Union levels, we estimate that the U.S. consumer surplus from wireless services would be halved, demonstrating that U.S. consumers and businesses enjoy substantially greater economical welfare from wireless services than their EU counterparts do," continued Entner. Entner provided greater insight into the value of the U.S. consumer surplus by stating that if the average wireless consumer in America spends $54 per month on wireless voice and data services, that same consumer would pay approximately $125 US for the same services in the European Union. Based on the conservative assumption that no services are added beyond what are available today, Ovum predicts that over the next 10 years, the wireless telecom industry will create an additional 2-3 million new jobs, adding a cumulative additional $450 billion in GDP.
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