Effects of Mobile Industry on Global Economy

Mobile technology has wholly transformed human lives as well as the global economy, according to the data collected by GSMA. In 2018, around $3.9 trillion, making 4.6 percent of the total GDP of the world was generated from the mobile industry.

Out of the total, $1.6 trillion was from the Asia Pacific region alone, which is more than any other region. As far as the regional dominance is concerned, the economy of West Africa is dependent on the mobile industry that accounts for 8.7 percent of its total GDP. Sub-Saharan Africa has almost the same situation, with 8.6 percent added to their GDP from mobile industry.

Asia-Pacific region makes the most, $1.600 billion, more than any other religion but it accounts for only 5.3% of its regional GDP. Second on the list is North America that makes $840 billion from mobiles, which is 4.1% of their total regional GDP. Latin America and the Middle East & North Africa make $270 billion and $170 billion respectively.

The least addition to the regional GDP of any region is to Europe, 3.5 percent, though it collects around $620 billion from it.

By comparing the recent results with the previous, an apparent increase in its importance can be seen all over the world. The mobile industry accounted for 3.8 percent of the world’s GDP in 2014. According to predictions by GSMA, this will reach 4.8 percent by 2022.

How Our Mobile World Powers the Global Economy

Graphic: Statista.

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