5G impact on the future economy

By 2035, when 5G’s full economic benefit should be realized, the production of goods and services could reach up to $12 trillion while the number of new jobs could be as high as 22 million, according to a survey from Qualcomm.

Image Source: 5G.co.uk

 

At global consumer electronics and consumer technology tradeshow CES 2017, Qualcomm CEO Steve Mollenkopf presented their new research of the 5G’s impact on the world’s economy in the near future.

According to the statistics, the production of goods and services could increase up to $12 trillion by 2035. Moreover, 5G industry should cause job creation up to 22 million (it is more than the population of Beijing) and generate $3.5 trillion in revenue.

The deployment of 5G wireless networks will be also favourable for the USA. There the number of new jobs can reach up to 3 million, that causes growth in gross domestic product of the USA up to $500 billion “through direct and indirect potential benefits”.

The expected global GDP growth will be equal to the size of India, Mollenkopf said, and will influence the world economy „similar to the introduction of electricity or the automobile.“

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Nadiia Gunko