Cell phones are an important contributor to the world economy, as well as developing countries. Prior to technological advances like cell phones, and other wireless communication devices and technologies, the rate at which countries develop were much slower than now. Infrastructure is a fortifying element to developing countries as they progress construction of transportation means, improve communications modes, and other infrastructure. It is difficult to say which is the most important factor in the development of economies in developing countries, but cell phones play a vital role.
Cell phone service, retail outlets, manufacturers, distributors, and users all stimulate the economy in monetarily. Think about all of the cell phone users. Each cell phone user pays a subscription fee, monthly usage fee, and purchases cell phones and accessories. Add this up over five years and the amount of money dedicated to cell phones is astronomical. Hence, service providers, retail outlets, manufacturers and distributors, collectively, employ thousands upon thousands of people, yielding a substantial boost to any economy. Cell phones help employees of companies, governments, and organizations to communicate quickly and cost efficiently. Not only does this convenient technology help these entities to do their jobs more effectively, but also help them perform better, financially.
India, a country that is a rapidly emerging country and booming economy has exploded with cell phone usage. The financial industry is up to par with the most developed countries of the world, because cell phones and their usage have enabled financial markets to operate speedily and all stakeholders to be in constant contact with their agents and banks. Further, the construction of infrastructure, cities, and metropolis areas are being completed in record time, all due to the ease of instant communications via cell phone usage. China is another example, although China is much more developed, it is still an example of continuing proof that cell phones are driving the economy in developing countries.
In a micro perspective of business and its functions within an organization, cell phone usage has helped businesses to minimize setback times, rapidly address the needs of goals, and connect board members and management who are distantly located over wireless connections. Conference meetings are conducted daily through cell phone conference connection features offered on cell phones. This allows those who are miles apart to connect and solve problems and make plans for the future.
Cell phones are much more useful and play such a large role in developing countries and their economies. It is often something that we overlook and take for granted. As globalization continues to occur, we can continue to see the global economy achieve many more milestones in the future all in thanks to cell phones.