Europe can create 2.4 million jobs
The European Association of Telecommunications Operators (ETNO) stated that over the next four years, Europe can use the digital investment to promote economic growth and accelerate green transformation, thereby creating 2.4 million new jobs.
According to the report ‘Connectivity and Beyond: How Telecom Companies Accelerate Everyone’s Digital Future’ commissioned by ETNO, will require 300 billion euros in investment in telecommunications, as well as efforts to promote digital demand and improve skills, digital people.
The report was produced by BCG Global Management Consulting Company and was published at the meeting of the European Council of Heads of State and Government of the European Union to discuss the future of European industry and digital policies.
Europe can use digital investment to promote economic growth and accelerate green transformation
BCG analysis shows that by 2025, 5G alone can bring Europe an annual GDP growth of 113 billion euros and 2.4 million new jobs, according to ITworld. While the EU seeks to revitalize the economy through the Recovery Plan, the introduction of gigabit networks and innovative digital services can help increase productivity and create smarter ways of working.
BCG believes that the widespread adoption of digital solutions can reduce carbon dioxide emissions by 15-30% through technological optimization in smart cities and reduce carbon dioxide emissions by 30% through the digital transformation of the transport sector.
To seize this opportunity, Europe must scale up its network investment to achieve ubiquitous gigabit speeds. BCG estimates that to achieve a full 5G scenario in Europe, 150 billion euros are still needed, and 150 billion euros are needed to complete the upgrade of fixed infrastructure at gigabit speeds.
The report emphasized that it takes a lot of effort to stimulate demand, as it was found that 83% of SMEs in the European Union were not using advanced cloud technology, and 60% of 9-year-olds were still in school. they were not equipped with digital devices.
BCG estimates that modernizing the digital infrastructure of all European schools will require € 14 billion a year, which is equivalent to 1.8% of the EU’s Next Generation Fund. The digitization of all European SMEs will require 26,000 million euros a year.
According to the report, cooperation within the telecommunications industry and between European industrial sectors is becoming a decisive feature of this new phase.
The European Association of Telecommunications Network Operators ETNO was established in 1992. It has 40 members and observers, including many leading telecommunications equipment manufacturers.