This is demonstrated by their steady climb in rankings such as the World Economic Forum’s Networked Readiness Index. Bahrain, Qatar and the United Arab Emirates, for instance, have entered the NRI’s top 30. Much more, however, remains to be done.
The information and communications technology (ICT) sector represented 5.9 per cent of regional gross domestic product and a value of $81bn in 2010. With the right efforts, it has the potential to reach 7.5 per cent of GDP and $173bn in value by 2015. It could also create more than 300,000 jobs in the same period, in a part of the world that needs them urgently.
These achievements will require greater government attention and co-ordination. With the correct policies in place to enable the sector to blossom, the ICT industry will grow at a much faster pace than the status quo.
Without this focus, however, the Middle East stands to lose as much as $15bn in opportunity costs every year, as it misses out on the economic gains that would result from additional investments and resources.
This is the ideal moment for the region’s governments to commit to the sector’s revitalisation.
After a decade of economic liberalisation and rapid growth, markets are reaching maturity. Growth in traditional telecommunication markets is slowing, giving way to growth in digital applications and technological solutions.
Countries that had previously needed to focus on getting people and businesses connected can now shift to ensure they are making the most of those connections, with an emphasis on services such as e-health, e-education and mobile banking.
A young and technologically savvy population is ready to take advantage of these changes. In a region where young talent is frequently rapidly siphoned off by more stable economies, the ICT sector has the potential to attract and retain this vital demographic. ICT will underpin the creation of not only jobs but also entrepreneurial opportunities and economic diversification.
For the ICT sector to flourish, governments must acknowledge that it is a national priority and act accordingly.
Making this case can be particularly difficult in oil-rich economies, where governments’ necessary levels of investment in ICT – and the potential returns – are little more than a rounding error. But in devising policies that will support the next wave of sector growth, governments should consider not only the financial gains, such as tax revenue, that the ICT sector can provide; they must also look at the broader socio-economic impact of enabling a healthy ICT sector.
In addition to investment, the sector needs policies, governance models and performance metrics that acknowledge its increasing complexity and its interconnections with other critical industries. ICT is too important to be left to ICT players alone. The digitisation of different sectors needs a co-ordinated effort across industries, rather than sporadic efforts from disparate stakeholders.
If channelled efficiently, ICT could become the greatest enabler of social and economic change the region has known. Digital technology is a powerful tool to ensure that education is more far-reaching, social justice is better served, and that government is more efficient.
As it becomes increasingly clear that the ICT industry is one of the foundations of the Middle East’s social and economic future, learning how to harness its full promise becomes an imperative.
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Autor(en)/Author(s): Bahjat El-Darwiche and Louay Abou Chanab
Quelle/Source: Financial Times, 29.02.2012
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