Information technology revolution impact on the third world countries - Essay Example

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Contemporarily, numerous dispensations around the globe have realized the implication of ICT and the pertinent role it takes in the third world nations, or the developing nations. It plays a consummately pertinent role in development of societies, augmenting economies and…
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Information technology revolution impact on the third world countries
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Download file to see previous pages Besides, one of the signs of the extent of attention and alertness dedicated to information and communication technology globally is its immense contribution to the global GDP, which augmented from 5.5% in the past years to 6.75% contemporarily. Moreover, the size of this sector in the contemporary or present world tallies to 2.5 trillion dollars globally. Furthermore, the implication of ICT on the level of productivity and the GDP is overtly consummate, and a single illustration of this factual statement is the yearly growth rate of prime monetary systems such as the U.S.A., which notably augmented from approximately 1.4% for up to 1995 to the eventual or present 2.3% up to the year 2000.
Notably, this augmentation attributes to the augmented productivity in diverse sectors of the community, with close regard to the ICT contribution of 75%. Moreover, in the Australian monetary system, ICT has augmented productivity in virtually all economic sections by approximately 30%. A further positive implication of ICT on the global perspective is that its industries are effectually aiding in the complete diversification of capital sources and structuring of new immensely paying job opportunities for the people (Chandra 144). Moreover, this reduces the current unemployment rate and notably augments income of a common inhabitant. Saudi Arabia is a conferrable nation in whose case ICT has immensely contributed more than 15% of the GDP.
Additionally, another feature of ICT on the global perspective is that its penetration into diverse fields and dispensations with a general purpose of enabling or activating technology. This happens via ICT providing a ready platform for virtually all sectors of the economy. In this case, it has contributed immensely to numerous sectors of the economy in Saudi Arabia. Moreover, this comes as an addition ...Download file to see next pagesRead More
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