Need advice? Call our experts free on
0800 090 1342
Everything Everywhere finds 4G will deliver Â£75bn boost to GDP
A new study has claimed the rollout of 4G will boost GDP to the tune of Â£75 billion by 2020.The roll out of 4G mobile broadband infrastructure will be worth £75 billion to the UK's GDP by the end of the decade, according to Everything Everywhere.
Research carried out by Capital Economics on behalf of the network operator revealed that by 2020, the technology could add 0.5 per cent to the country's GDP figure - equivalent to £75 billion at current rates.
In addition, the deployment is expected to unlock £5.5 billion of investment from the mobile industry and create or safeguard 125,000 jobs, while 4G is set to provide super-fast broadband access to at least ten million people who cannot receive the service via a fixed-line connection by 2020.
Report author Mark Pragnell said the introduction of 4G mobile broadband in the UK will offer "substantial long-term benefits" to consumers and the national economy.
The £5.5 billion of private spending in the near term will prove particularly beneficial given the recent slump in investment, he claimed.
Mr Pragnell stated that the study shows how having world-class digital infrastructure will attract more start-up businesses to Britain and make the company more globally competitive.
"The research shows that rolling out 4G will kick-start a new cycle of investment and innovation in internet services and mobile devices for consumers, and productivity benefits for businesses," he added.
Olaf Swantee, chief executive of Everything Everywhere, pointed out that more than 30 countries are already benefiting from 4G mobile broadband technology.
"The UK has the highest levels of smartphone penetration and mobile commerce in Europe, and Britons deserve to have the best infrastructure in place to support this growth," he declared.
Earlier this month, Everything Everywhere revealed that 74 per cent of Britons want 4G services to be rolled out as soon as possible.
Some 82 per cent of respondents to the YouGov poll expressed their belief that 4G networks and other innovations are vital to protecting jobs and ensuring the UK remains competitive.