Telecom sector contributed nearly $81B to Canadian economy in 2023: PwC report

Canada’s telecommunications sector contributed $80.8 billion to the country’s GDP and supported nearly 782,000 jobs across industries in 2023, according to a new PricewaterhouseCoopers (PwC) report commissioned by the Canadian Telecommunications Association (CTA). The report, titled Driving Canada’s productivity: The impact of the telecom sector and its role in improving productivity, found the Canadian telecom sector invested $11.4 billion in capital expenditures in 2023 to continue expanding, enhancing and strengthening the country’s wireless and broadband networks. On average, Canadian telecom providers reinvested 17.9 per cent of service revenues in 2023, exceeding the average reinvestment rates in the United States (14.6 per cent), Australia...