Telecommunications industry contributed 3.7% of Canadian GDP in 2019

Telecommunications industry contributed 3.7% of Canadian GDP in 2019

The telecommunications industry weighs heavily on the Canadian economy with a contribution to GDP of $ 74.5 billion as well as 638,000 jobs in 2019.

This is the conclusion of a study conducted by Accenture at the request of the Canadian Wireless Telecommunications Association (CASW).

The $ 74.5 billion, which represented 3.7% of Canada’s GDP last year, breaks down as follows according to the results released Wednesday: $ 23.5 billion is linked to the value chain of service providers and $ 51 billion is inherent in the activities of other industries that have increased their sales or production thanks to better wireless or wired connectivity, it was said, in a statement.

“This report shows that the telecommunications industry continues to be a key driver of the Canadian economy and is carving out an increasingly important place in the context of the COVID-19 crisis,” said Robert Ghiz, President and CEO of CASW.

“Connectivity is now essential for businesses, consumers and governments across Canada,” he continued. We know that the contribution and investments of service providers who operate infrastructure will boost the Canadian economy, [créeront] well-paying jobs and [amélioreront] the quality of life of Canadians. ”

To do this, ACTS is calling for “stable environmental policies that encourage the private sector to invest in the development of network infrastructure and next generations of technology, such as 5G,” Ghiz said.

Private sector capital investments in wireless and wireline connectivity exceeded $ 10 billion last year in the country. These amounts do not include the $ 50 billion invested in wireless, the $ 20 billion in license fees paid since 1987 and the $ 150 million investments in wireline since 1996.

“Connectivity resiliency and network stability have become priorities for businesses, consumers and the public sector,” said Tejas Rao, senior manager and Global 5G project leader at Accenture.

“As we adapt our infrastructures for the deployment of 5G networks, new business models are emerging, as are new uses for technologies, in all sectors of activity,” he added. . This could have the effect of giving a very big boost to economic activity across Canada. ”

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