06 Oct How the development of online communication is allowing the growth of economies
The birth of the internet and its rapid development has led to some of the most dramatic changes in how we lead our lives today. This is true for entire countries as much as it is for individuals. Thanks to the new and exciting opportunities provided by the huge and diverse range of online platforms and services, smaller economies have been able to develop at a faster rate than ever before.
The Changing Nature of Business
The internet has, without any shadow of a doubt, transformed the way we do business in the modern world. It has done this mainly by making the world feel like a smaller place. Communications between different countries are cheaper, easier, quicker and more efficient than ever before. This means that businesses have access to brand new audiences that previously would have been out of reach for them.
This change has been particularly significant for small businesses, as they benefit from the reduction in overheads that can be achieved through online operations. As a result, emerging economies have become even more attractive to entrepreneurs and start-up organizations.
Emerging Economies
Here are a few examples of emerging economies that have experienced significant progression facilitated by the introduction of the internet:
- The Middle East has experienced some political turbulence in recent years, but certain areas are trying to put this behind them. Ehsanollah Bayat is one of the people responsible for bringing modern communications for Afghanistan and helping to stimulate the economy there as a result. On an absolutely fundamental level, the internet is proving to be a critical part of the education system, helping countries in this region prepare for a successful future.
- China still enjoys an enviable status as one of the fastest growing economies, and its remarkable growth shows no signs of slowing down. The Beijing Olympics, in the summer of 2008, was a perfect opportunity to show off the Chinese capabilities with high profile events and major infrastructure projects. Around two thirds of the population are estimated to have internet access.
- Finally, India is another country which has gathered a great deal of attention due to its rapidly growing economy. It has benefitted enormously from businesses choosing to outsource certain services to keep overhead costs low. This is something that would have been far more difficult to manage without online capabilities. An increasingly technologically sophisticated population, with a growing appetite for smartphones and other mobile devices, is one indication of how the economy in India is changing.
The Future
While it is impossible to predict with complete accuracy what the future holds in any aspect of the business world, the majority of experts would agree that the most exciting developments taking place on a global scale are those facilitated by the rise in popularity of online business. This, in turn, has made emerging economies some of the most interesting and potentially profitable from both a technological and economic point of view.