Report Emphasizes 5G Job Creation and Boost to the US Economy

A new report by Boston Consulting Group (BCG) titled "5G Promises Massive Job and GDP Growth in the US" estimates the significant economic boost that the American economy will receive on account of next-generation wireless network deployment. The report was released on February 2, 2021. 

 

According to BCG's report, "5G deployment will contribute $1.4 trillion to $1.7 trillion to US GDP and create 3.8 million to 4.6 million jobs" over the next ten years. The report provides a helpful overview of the primary stages of 5G development – "foundation," "expansion," and "augmentation." Coinciding with those three states of development, BCG's report projects that 5G will first drive economic activity through network infrastructure deployment but then enable "an even greater wave of economic activity" indirectly as 5G networks enable new uses across manufacturing, construction, health care, and other industries. 

The expected economic benefits from 5G networks should prompt Congress, the FCC, and NTIA to continue infrastructure siting reforms as well as efforts to make more spectrum available for commercial 5G services. 

 

BCG's new report on 5G's job and GDP prospects is a follow-up to a report I covered in a September 2020 blog post.