ETNO’s report suggests that investment on this scale could benefit Europe to the tune of 2.4 million new jobs over the next four years, while also boosting economic growth and accelerating green transformation.
The release comes prior to a meeting of EU heads of state for the European Council where they will discuss the future of Europe’s industrial and digital policy.
The new analysis, carried out by consulting firm BCG on behalf of ETNO, finds that 5G alone can generate an annual increase of €113bn in GDP by 2025. The construction of gigabit networks and new digital services could also help to increase productivity as the continent tries to recover from the Covid-19 impact.
BCG estimates that €150bn is still needed to achieve a 'full 5G' scenario in Europe, while an additional €150bn is required to finish upgrading fixed infrastructure to gigabit speeds.
Elsewhere, widespread uptake of digital solutions in areas such as smart cities could reduce...