GENEVA, Switzerland, Nov. 16 (UPI) -- The United Nations' latest report on trade and development claims that among business' bare necessities is a broadband internet connection.
The U.N. Conference on Trade and Development's "Information Economy Report 2006," released Thursday, outlines the importance of broadband for business survival in developing nations.
According to the report, which was launched in Geneva, Switzerland, "broadband is becoming such an important tool in the business world that it is reaching the status of a 'utility' -- as necessary as electricity and water."
The report outlines the existence of broadband connectivity in developing nations, saying the growth of global e-commerce has become so ubiquitous, countries without it will be left behind in the age of digital industrialization.
"Expanding access is thus vital in the poorer regions of the world, or firms in those countries will face a growing competitive disadvantage and whole nations may lose out on significant economic growth," the report said.
The report emphasized how broadband has become "the new chasm in information and communication technology," citing growth in e-commerce in industrialized nations.
"Business broadband connectivity of European Union enterprises jumped from 53 percent in 2004 to 63 percent in 2005," the report said.
In contrast, only 71 of 151 developing nations submitted data, and "48 of those 71 said broadband penetration rates were under 1 percent."
Still, UNCTAD is confident increasing access to broadband technology is an achievable task, saying "wireless technology and satellite can help to make up for the missing infrastructure needed to make broadband available."
