ETNO: Europe Could Create 2.4 Million Jobs

Europe could create 2.4 million jobs


MarketBusiness

Peter Chachin | 03/28/2021

ETNO: Europe Could Create 2.4 Million Jobs

European Telecommunications Operators Association (ETNO) says Europe could create 2.4 million new jobs over the next four years by leveraging investments in digital networks and
while stimulating economic growth and accelerating green transformation.

According to a report commissioned by ETNO, Connectivity and Beyond: How Telcos Can Accelerate a Digital Future For All, it will need € 300 billion in telecommunications investments, and
also efforts to stimulate digital demand and provide people with digital skills.

This report was prepared by the consulting company “BCG global management consulting” and was published at a time when the heads of state and government of the European Union are gathering for a meeting.
European Council to discuss, in particular, the future of industrial and digital policy in Europe.

BCG analysis shows that 5G alone can generate € 113 billion in annual GDP growth and 2.4 million new jobs in Europe by 2025. As the EU seeks to revitalize the economy with
A recovery plan, the introduction of gigabit networks and innovative digital services can help increase productivity and create smarter ways of working.

BCG believes that widespread adoption of digital solutions can reduce carbon dioxide emissions by 15-30% through technological optimization in smart cities and by 30% through digital transformation in
the transport sector.

To seize this opportunity, Europe must scale up its network investments to achieve ubiquitous gigabit speeds. BCG estimates that to achieve a full 5G scenario in
Europe still needs € 150 billion (although this does not mean universal coverage), while an additional € 150 billion is needed to complete fixed infrastructure upgrades before
gigabit speeds.

The report emphasizes that a lot of effort needs to be put into stimulating demand, as it was found that 83% of SMB enterprises in the EU do not use advanced cloud technologies, but 60%
nine-year-olds are educated in schools that are not equipped with digital equipment.

BCG estimates that modernizing the digital infrastructure of all European schools will require € 14 billion per year, which corresponds to 1.8% of the EU’s Next Generation fund. Digitalization of all
European SMBs will require € 26 billion per year.

Collaboration within the telecommunications industry and between European industrial sectors is becoming a defining feature of this new phase, the report says.

The European Association of Telecommunications Network Operators ETNO was founded in 1992. It has 40 members and observers, including a number of leading telecommunications equipment manufacturers.

Telecommunications 5G

Journal: IT-News Magazine, Magazine Subscription



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