There is no denying the fact that the Internet has revolutionized the very existence of the world, but who had imagined that the Internet also holds the power to pull 500 million people out of poverty? All this is possible by providing Internet access to 4.1 billion people, all over the world.
When one thinks of accomplishing such a feat, the idea might seem next to impossible. However, that’s not the case. People often think that the main barrier to accomplishing this task is the lack of infrastructure. However, if statistics are to be believed, the main barrier — which is preventing the implementation of Internet globally — is affordability, not lack of infrastructure. Unfortunately, more than 9/10th of the world lives in locations which have the infrastructure, but lack the funds to be able to afford an Internet connection.
When we talk about basic Internet data plans, even affording 500 MB of Internet can cost people 5% of their monthly income, which often comes across as unaffordable. However, a lot of people still find it well within their means to get online. In the end, the balance between needs and personal choices makes it more important for people to access the Internet, as compared to affordability.
If sources are to be believed, most of the developing countries already have the basic infrastructure to host the Internet. Countries like Indonesia, Brazil, and China are already 100% covered by Internet capable infrastructure. In the end, it’s the choices that decide the course of action to be taken by the population of these countries.
On the other hand, not everything is rosy for some of the other developing countries. In places like Philippines, Nigeria, and Ethiopia, in order to make the dream of bringing everyone online possible, the economy would need to perform price cuts up to 90% in order to achieve this far-fetched dream. Given the current status of the economy, this definitely seems like a dream that will continue to remain a dream in the near future.
How will the Internet facilitate growth in the developing nations?
With so many transformations happening on a daily basis, there is a lot of untapped opportunity available to developing countries. Companies and individuals alike are benefiting from the use of technological innovations, while a lot of payment platforms are emerging daily.
Each time a country doubles its Internet speed; there is an increase in the economic output by 0.3%. With the increase in the broadband outreach, there is always a chance of the creation of new sectors, as people get more and more jobs, allowing countries to benefit greatly from the use of Internet. Apart from these factors, there is also an increase in the education quotient in these economies, thereby, leading to an improvement in the way people perceive things around them.
But given the lack of funding, getting the Internet to everyone in the world will definitely be a thing of the future. However, with the advancement in technology, there is a hope that the world will be able to connect to the Internet, without a hitch. After all, the Internet is the heart of the world, and almost every part of our living moments depend on its very existence.