After we told you earlier today about the upcoming release of the CWTA/Nordicity report on the economic benefits of the Canadian wireless industry, the published data is now available. Here are some major findings, according to the report titled The Benefit of the Wireless Telecommunications Industry to the Canadian Economy:
- The Canadian wireless industry generated an overall economic benefit of $50.2 billion in 2011, when direct and multiplier effects associated with the industry’s GDP ($38.7 billion) are combined with the consumer surplus generated by wireless voice and data services ($11.5 billion).
- The Canadian wireless industry generated $20.7 billion in direct GDP in 2011. Direct GDP was up by 15% from $18 billion in 2010. Most of this increase was associated with Canadians’ increasing use of smartphones and wireless data services.
- Out of the wireless industry’s direct GDP of $20.7 billion, $13.4 billion, or 64%, was retained in Canada.
- Canada’s wireless industry supported 280,000 jobs in 2011, including direct, support-staff and indirect employment. The inclusion of induced impact employment brought the wireless industry’s total employment impact to 308,000.
- Canadian wireless network operators made capital investment totalling $2.6 billion in 2011.
There’s no way around it–the wireless sector plays a major role in our economy and our lives as growing demand for smartphones continues to increase. Bernard Lord, CWTA President & CEO said “With more than 90% of Canadians aged 15 and over now using a wireless device, we are connected like never before.”
Earlier today, the CRTC released their wireless code, which included the ability for Canadians to cancel their contracts after two years without penalty, along with other changes as well.