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Wireless Becomes Vital Economic Engine8 October 2005
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.
To view the Multimedia News Release, go to:
http://www.prnewswire.com/mnr/ctia/22898/
The independent report, commissioned by CTIA-The Wireless Association(TM),
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.
A summary of the report is available at http://www.ctia.org.
Source: PR Newswire
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