“5G can increase global GDP and tax revenue by billions.

According to a new report by the GSMA, a representative of mobile operators worldwide, the 5G infrastructure will add billions of dollars to global GDP (Gross Domestic Product) and tax revenue. By 2034, global GDP would have increased by $565 billion, while global tax revenue would have increased by $152 billion that year. That says IT Pro Portal.

According to the GSMA, access to health care, education and mobility will be improved. Safety is also increased and pollution is reduced. The positive results, however, depend on the support of governments for enough millimeter wave (mmWave) spectrum for the mobile industry.

Spectrum

“Mobile providers have a history of maximizing the impact of our spectrum reviews, and no one else has done more to turn spectrum allocations into services that change people’s lives,” says Brett Tarnutzer, Head of Spectrum at GSMA. “Spectrum planning is essential to enable the highest 5G performance, and government support for mmWave mobile spectrum at WRC-19 enables the highest values of 5G deployments for their citizens.

Tarnutzer states that more than five million people already rely on the mobile ecosystem to provide services that are important to their daily lives and fundamental to the economic sustainability of the communities in which they live. He concludes that 5G can offer more benefits, as well as a whole new range of services to even more people. However, this is not possible without access to the vital spectrum.

It is expected that countries in Asia (an additional $212 billion in GDP) and America ($190 billion) will earn the most, as they will be the first to adopt 5G. Europe is expected to have the highest growth rate in terms of percentages of GDP. It’s 2.9 percent.