Report commissioned by Everything Everywhere says rollout will unlock £5.5 billion of direct private funding into the economy by 2015 and create or safeguard 125,000 jobs
Research commissioned by Everything Everywhere has found that £7.5 billion will be added to UK’s annual Gross Domestic Product (GDP) by the end of the decade as a result of the introduction of 4G, contributing a further £75 billion over subsequent next ten years.
It also revealed the rollout will unlock £5.5 billion of private investment by the mobile industry by 2015 and create or safeguard 125,000 jobs in the UK.
Everything Everywhere said the research shows that rolling out 4G will kick start a new cycle of innovation and investment in internet services and mobile devices for consumers, ands productivity benefits for businesses.
It added it also shows how giving Britain a world class infrastructure will make it more globally competitive and attract new business start-ups.
Everything Everywhere CEO Olaf Swantee (pictured) said: ”This research highlights the significant economic and social benefits that 4G will bring to the UK – already enjoyed in over 30 countries around the world.
“The UK has the highest levels of smartphone penetration and mobile commerce in Europe, and Britons deserve to have the best infrastructure in place to support this growth.”
Capital Economics head of commissioned projects and report author Mark Pragnell said: “The introduction of 4G mobile broadband will create substantial long-term benefits for the economy and consumers, ultimately boosting UK GDP by as much as half a percentage point.
“The near-term £5.5bn private industry investment we project is substantial – and opportune for the wider economy given the recent investment slump.”
Everything Everywhere has also launched a website at www.4GBritain.org for organisations and individuals to learn more about 4G and say what they want to be introduced in the UK.
The website features commonly asked questions about 4G and includes this research from Capital Economics, with links to other independent reports on the benefits of 4G mobile broadband on the society and economy.