Mobile phones are a major contributor to the world economy, as well as to developing countries. Before technological advances such as mobile phones and other wireless communication devices and technologies, the pace of development in countries was much slower than now. Infrastructure is a strengthening element for developing countries as they advance in the construction of means of transport, improve communication modes and other infrastructures. 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 key role.
Cell phone service, points of sale, manufacturers, distributors and users stimulate the economy monetarily. Think of all mobile 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. Thus, service providers, outlets, manufacturers, and distributors collectively employ thousands upon thousands of people, giving any economy a substantial boost. Mobile phones help employees of businesses, governments, and organizations to 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 the use of cell phones. The financial industry is on par with the most developed countries in the world, because cell phones and their use have allowed financial markets to function quickly and all stakeholders are in constant contact with their agents and banks. In addition, the construction of infrastructure, cities and metropolitan 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 mobile 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 goal needs, and connect board members and management. that are distant through wireless connections. Conference meetings are held every day via cell phone conference connection features offered on cell phones. This allows those who are miles away to connect, solve problems and make plans for the future.
Mobile phones are much more useful and play a very important role in developing countries and their economies. It is often something 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 thanks to cell phones.