OECD says IT sector resisting economic crisis

Oct 04, 2012

The information and communication technology (ICT) sector has resisted the economic crisis and is becoming a key infrastructure for the world's economy, the OECD said Thursday.

"The expansion of mobile has helped buoy the ICT sector, and in many ways the economy as a whole, during a period of sustained economic malaise," the Organisation for and Development said in a report based on a study of 250 top ICT firms.

"The Internet is becoming a key economic infrastructure, revolutionising businesses and serving as a platform for innovation," the Paris-based organisation of 34 leading .

The top firms registered an average annual growth rate in revenue of six percent between 2000 and 2011, with total revenue at more than $4.6 trillion (3.5 trillion euros) in 2011, or an increase of five percent over the previous year.

A key source of the growth has been an expansion of mobile connections, which overtook the number of fixed broadband subscriptions in 2009. In 2011, the estimated number of mobile subscriptions among OECD countries was at 667 million, or more than double that of the 315 million fixed connections.

"The number of mobile phone subscriptions worldwide has more than doubled since 2005 and tripled in non-OECD countries," the OECD said.

The organisation added that the top firms increased their hiring by six percent from 2010 to 2011 to take on more than 14 million people worldwide that year.

The ICT sector also "continues to attract , accounting for more than 50 percent of all venture capital in the United States, the world's largest market, in 2011," the OECD said.

The US and Japan accounted for the largest number of the top 250 ICT firms in 2011, while in Europe, the countries most likely to host the firms were France, Germany, the Netherlands and Britain.

Explore further: Two more former Sony workers sue over data breach

add to favorites email to friend print save as pdf

Related Stories

China's mobile phone subscriptions top a billion

Mar 30, 2012

China said Friday it had broken the barrier of one billion mobile phone accounts at the end of February, as more people in the world's most populous country ditch fixed phones.

Internet frauds jump in S.Korea: police

Jul 06, 2011

The number of arrests linked to online fraud in South Korea, one of the world's most wired countries, increased by more than 50 percent in the past two years, police warned Wednesday.

Recommended for you

2012 movie massacre hung over 'Interview' decision

8 hours ago

When a group claiming credit for the hacking of Sony Pictures Entertainment threated violence against theaters showing "The Interview" earlier this week, the fate of the movie's big-screen life was all but ...

Clooney slams skittish Hollywood after Sony hack

14 hours ago

Film star George Clooney slammed the Hollywood movie industry for failing to stand up against the cyber threats that prompted Sony Pictures to cancel release of the movie "The Interview."

Atos shares soar after Xerox acquisition

17 hours ago

Shares in French tech firm Atos soared nearly five percent on Friday as traders cheered the news it had bought the IT wing of Xerox for more than $1 billion.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.