The correlation between telecommunications and economic development: The essential connection

Abstract

Much has been written, discussed, debated, advertised and hypothesized about the knowledge-based economy, the need for speed and the effect of the internet on the economy in general. This overwhelming information exchange and speed of change has had a profound effect on the economic development mandate at a variety of levels in the public and private sector. This paper examines the synergies between economic development and telecommunications in rural and urban environments, concluding that in rural settings its impact on economic development has the potential to create significant benefits.

Keywords: telecommunications, economic development, knowledge-based economy