Boom drives mobile related spending
Print Edition
CHINA’S mobile related retail expenditure, connection fees and investment in infrastructure grew by a compound annual growth of 17.7 percent from 2009 through 2014, Boston Consulting Group said in its Mobile Revolution report.
About 1 million people worked in the booming mobile technology or mobile application community in China last year, more than double the figure in the US. China became the largest smartphone market in 2012.
Globally, mobile technology generated a revenue of US$3.3 trillion in 2014, employing 11 million people worldwide, according to the survey.
The survey covered 7,500 consumers in the US, Germany, South Korea, China, Brazil and India. It also studied 3,500 small- and medium-sized enterprises in the six countries to evaluate the economic impact of mobile technology.
China’s mobile technology related consumption and investment made up just 3.7 percent of its gross domestic product in 2014, below South Korea’s 11 percent and only slightly above 3.2 percent in the US, the survey said.
Mobile devices have now become a basic necessity for many consumers.
The survey found that more than half of the respondents were willing to give up dining or vacation for a year in favor of using their mobile phones.
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