Cell phones are a major contributor to the world economy, as well as to developing countries. Before technological advances such as cell phones and other wireless communication devices and technologies, the pace of development of countries was much slower than it is now. Infrastructure is an empowering element for developing countries as they move forward in building transportation, improving communication modes and other infrastructure. It is difficult to say which is the most important factor in the development of the economies of developing countries, but mobile phones play a vital role.
Cell phone service, retail stores, manufacturers, distributors, and users stimulate the economy monetarily. Think of all cell phone users. Each cell phone user pays a subscription fee, a monthly usage fee, and purchases cell phones and accessories. Add this up over five years and the amount of money spent on cell phones is astronomical. Therefore, service providers, outlets, manufacturers, and distributors collectively employ thousands upon thousands of people, creating a substantial boost for any economy. Cell phones help employees in businesses, governments, and organizations communicate quickly and cost-effectively. This convenient technology not only helps these entities do their jobs more effectively, it also helps them perform better financially.
India, a rapidly emerging country with a booming economy, has exploded with cell phone usage. The financial industry is on a par with the most developed countries in the world, because cell phones and their use have allowed financial markets to operate quickly and all stakeholders to be in constant contact with their agents and banks. Furthermore, the construction of infrastructure, cities and metropolis areas is being completed in record time, all due to the ease of instant communications through the use of cell phones. China is another example, although China is much more developed, it is still an example of continuous proof that cell phones are driving the economy in developing countries.
In a micro perspective of business and its functions within an organization, the use of cell phones has helped companies minimize downtime, quickly address the needs of targets, and connect board members and management. that are in a remote location via wireless connections. Conference meetings are held daily through the cell phone conferencing 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 a very important role in developing countries and their economies. It is often something that we overlook and take for granted. As globalization continues, we may continue to see the global economy reach many more milestones in the future, all thanks to cell phones.