OTTAWA – While 5G is expected to affect Canada’s economy and society in ways that outpace that of recent technological developments, holding an accelerated auction of the key spectrum by 2019 will create substantially more jobs and have a greater impact on the country’s GDP, says a new report by the Information and Communications Technology Council (ICTC).
5G: Jumpstarting Our Digital Future explores specific 5G-related skill needs and the impacts of 5G on GDP and employment in Canada according to two auction timelines. Estimating a total economic impact ranging between $14 billion to $26 billion depending on external economic influencers, a 2021 auction timeline will bring significant prospects for economic growth to Canada.
At the same time, a 2021 auction timeline will yield anywhere between 46,000 to 82,000 new jobs for Canadians, continues the report. However, understanding that many global players are making key advancements in this space at a more accelerated rate, holding auctions just two years earlier in 2019 will yield immense benefits for Canada. Under a 2019 spectrum action timeline, the economic impact of 5G will total between $22 billion to $35 billion, creating between 73,000 to 121,000 new jobs for Canadians.
“Advanced mobile communications play a pivotal role in Canada’s economy and society”, said ICTC president and CEO Namir Anani, in the report’s news release. “The advent of 5G is set to be the next innovation engine, enabling a new breed of business models and industries to take shape. Being at the forefront of this technology is key to ensuring a strategic advantage in a global economy.”
