Overview of the Telecoms Sector

(Saint Lucia)

Original Text: Overview of the Telecoms Sector

Total revenues generated at March 2010 from the telecommunication sector in the ECTEL Member States cited a 5.5 per cent increase to $772 million. The increase is significant as the sector suffered a contrasting decline in revenues by 4.9 per cent to just over $730 million at the end of the review period dated March 2009.

Estimated nominal GDP growth figures collected from the ECCB for most ECTEL Member States indicated declines from previous years hinging on the global economic instability which affected the region’s economic sectors. At review end 2010 contributions to GDP, according to the Central Bank statistics, from the telecommunication sector was cited at 11.17 per cent noting a decline from the previous period contributions to GDP of 11.33 per cent.

Total revenues as a percentage of GDP growth remained constant at 9 per cent over a two year period while investment as a contribution to GDP growth declined considerably. Investments into the sector dropped to fewer than $70 million at March 2010 citing a further reduction in the overall investment in dollars placed in the telecommunication sector over the past two years in the ECTEL Member States. The five year average investment contribution to GDP growth figures was cited at 2 per cent at the review end March 2010.

The reduction in investment cited at the end of the review period was a manifestation of the economic slowdown during the 2008 and 2009 fiscal years. Direct employment in the sector failed to recover for the second consecutive year recording further declines at review end by 15 per cent to reach an all time low of just about 1200 employees.

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Revised Text:

Total revenues generated as of March 2010 from the telecommunication sector in the ECTEL Member States cited a 5.5 per cent increase, to $772 million. The increase is significant as the sector suffered a contrasting decline in revenues by 4.9 per cent, to just over $730 million, at the end of the review period dated March 2009.

Estimated nominal GDP growth figures, collected from the ECCB for most ECTEL Member States, indicated declines from previous years, hinging on the global economic instability which affected the region’s economic sectors. At the review ending in 2010, contributions to GDP from the telecommunication sector, according to the Central Bank statistics, was cited at 11.17 per cent, noting a decline from the previous period contributions to GDP of 11.33 per cent.

Total revenues, as a percentage of GDP growth, remained constant at 9 per cent over a two year period, while investment as a contribution to GDP growth declined considerably. Investments in the sector dropped to less than $70 million as of March 2010, indicating a further reduction in the overall investment in dollars placed in the telecommunication sector over the past two years in the ECTEL Member States.

The five year average investment contribution to GDP growth figures was cited at 2 per cent in the review period ending in March 2010.

The reduction in investment cited at the end of the review period was a manifestation of the economic slowdown during the 2008 and 2009 fiscal years. Direct employment in the sector failed to recover for the second consecutive year, recording further declines at review end by 15 per cent, to reach an all time low of just about 1200 employees.

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