The telecom industry is big news these days, especially in Latin America. This is why ACIET, or “Asociación Iberoamericana de Centros de Investigación y Empresas de Telecomunicaciones” in conjunction with Ovum, a technology research firm, has released a study to measure the effects the industry has on the economy of the region. The study, called the Observatory of Telecoms Indicators in Latin America, set out to measure and analyzes the current state of telecom operations, as well as identifies the socio-economic impact it has made on the local people. The results, on all levels, are overwhelming positive.

According to the report, Telecoms have become an ever-present part of the day-to-day lives of people in Latin America. The technologies they’ve provided on the consumer end are used by millions, and on a sociological level, have changed the way people communicate across the board. The industry itself has also contributed to the region, giving thousands of people jobs, and helping to develop economies on both a small and large scale.

As detailed in the Observatory study, the telecommunications industry in Latin America has created new jobs at a fever pace over the last five years. The number of new employees added by telecom operators has increased by around 60%, boosting the overall number to nearly a quarter of a million workers on the continent. These numbers were highest in places like Brazil and Nicaragua, where workers in the sector have more than doubled. In Guatemala and Mexico, the number of overall workers has increased by nearly 50%. In the financial side of the business, capital investment by telecoms has increased by roughly 30%. This is mostly due to new LTE, and data network deployment, set up to match the high demand for updated infrastructure, and better digital services.

The Secretary General of AHCIET, Pablo Bello, insists that these numbers are representative of a greater change in the socio-economic fabric of Latin America. According to Bello:

“It is time for countries to seriously consider how much faster we could close the digital divide and remove the regulatory moorings that are still hindering telecoms growth and equitable access to advanced services. Our hard data shows that countries which have made the most progress are those where key players in the digital ecosystem recognize the need for public–private cooperation with convergent public policies, regulations and taxation that encourage investment. There are no magic spells to close the digital divide. The key is to invest intensively in next-generation access networks, and to educate on the sophisticated uses of digital connectivity, a challenge facing all participants, “

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