How the internet affects economic growth

Discussion in 'Business and Economy' started by ritchie, Apr 3, 2017.

  1. ritchie

    ritchie Kenya Member

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    Have you ever tried to imagine what would happen if there was no internet worldwide for just a day? It would be catastrophic, to say the least. Indeed, the internet accounts for a great share of the GDP growth, in mature economies. What is of great concern is the impact it has had in the way information is shared as well as the flow of ideas, around the globe. In a way, a business person cannot afford to lag behind with such a digital revolution in place. Do you agree?
     
  2. Geordy

    Geordy South Africa Member

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    That is so true. As a newbie to this digital publishing business, I have to say that I'm awe inspired by the sheer impact that the information industry has made the world over.
     
  3. tulip

    tulip Kenya Member

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    Newbies or what we'd call upstart entrepreneurs have still had a share of the greater benefits that the technological revolution has ushered. I think there's still greater potential that can emerge out of an enhanced internet ecosystem and for a business or enterprise, it will be a matter of rightly positioning itself.
     
  4. Connected

    Connected United States Member

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    I share that sentiment. I still see a great number of people though who do not see just how important the internet really is. Perhaps they would if it went down for a day.
     
  5. Mallard

    Mallard United Kingdom Member

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    That would be worse than you might think. If banks can't settle with each other, the entire credit card system would crash and backup. Share trading would effectively stop. Shops with electronic or centralised tills would not be able to sell anything, and many people would be unable to work. I don't think people realise just how much part of day-to-day life the internet has become.
     
  6. ritchie

    ritchie Kenya Member

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    I think we are that point where everything depends on the internet. Forget about an internet outage; how much desperation does unstable internet cause? The internet has become a very important link and has a direct effect on economic growth.
     
  7. Geordy

    Geordy South Africa Member

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    I know what you mean, ritchie. Sometimes I get actual depression when my internet connection is down. I rely heavily on the internet as do billions of people.