In a report commissioned by the Canadian Telecommunications Association (CTA), the telecommunications sector’s contribution is highlighted, proving how it remains pivotal to the Canadian economy.
Economic Impact
The telecom sector alone boosted the Canadian GDP by $80.8 billion in 2023, marking a growth of over 5% from nearly $75 billion in 2022. Moreover, the sector supported nearly 782,000 jobs across various industries.
Looking forward, PwC projects that the telecom industry could add an additional $112 billion to Canada's GDP by 2035. This growth is expected to stimulate a resurgence in Canadian productivity by enabling digital transformation across the economy.
Enhanced connectivity, including advancements like 5G, is anticipated to play a crucial role in achieving these economic benefits, and will further empower individuals and businesses to participate in the digital economy.
"Canada's telecom sector is integral to our country's economic growth and digital future. By continually upgrading our networks and extending services to underserved areas, our industry is fostering greater economic opportunity, inclusivity and productivity," said Robert Ghiz, President and CEO of the Canadian Telecommunications Association. "To sustain and enhance these contributions and ensure we can keep building a robust digital future for all Canadians, it is essential that we have a stable regulatory environment that encourages continued investment."
Exclusive Feature: Transformative Tech: ICTs in North and South America
Investments Amid Price Declines and Increased Data Usage
In 2023, Canada's telecommunications sector invested $11.4 billion in capital expenditures (CAPEX) to expand and strengthen its advanced wireless and broadband networks.
This represents a reinvestment that averages 42.6% more per subscriber compared to peers in the US, Japan, Australia, and Europe.
Despite declining telecom prices in Canada—cellular and internet service costs fell by 26.2% and 15.5%, respectively, from March 2023 to March 2024—the report highlights significant infrastructure investments.
Moreover, Canadian data usage continues to surge. Average monthly mobile subscriber data traffic increased by 25% from 2022 to 2023, and broadband subscriber data usage has doubled since 2019.
As a result of these efforts, by 2023, 99.7% of Canadians had access to mobile wireless network coverage, while 93.5% of Canadian homes and businesses enjoyed broadband internet access.
Also Read: UK and Canada Forge New Pathways in AI Collaboration and Innovation