{"id":19137,"date":"2025-06-03T16:08:26","date_gmt":"2025-06-03T20:08:26","guid":{"rendered":"https:\/\/mhgoldberg.com\/blog\/?p=19137"},"modified":"2025-06-03T09:29:19","modified_gmt":"2025-06-03T13:29:19","slug":"stronger-more-productive-economy","status":"publish","type":"post","link":"https:\/\/mhgoldberg.com\/blog\/?p=19137","title":{"rendered":"Building a stronger, more productive economy"},"content":{"rendered":"

\"\"<\/a>Is sustained investment in telecommunications infrastructure essential to building a stronger, more productive economy in Canada?<\/p>\n

That is one of the conclusions of a newly released<\/a> PwC report commissioned by the Canadian Telecommunications Association<\/a>. The Executive Summary of “Enabling Canada\u2019s Economic Independence and Global Competitiveness Through Telecommunications” [pdf<\/a>, 905KB] opens with:<\/p>\n

Driven by substantial investments in network infrastructure, the telecommunications sector is a key enabler of the Canadian economy and instrumental in addressing Canada\u2019s productivity challenge and building a stronger Canada. As geo-political challenges evolve, Canada faces mounting pressure on its economic independence and national security. By promoting sustained investment by telecoms in expansion and enhancement of network infrastructure, Canada should strategically leverage the telecommunications sector to safeguard Canada\u2019s economic independence, and global competitiveness.<\/p><\/blockquote>\n

You have read my views many times on these pages, advocating for the government to maintain incentives for investment<\/a> in digital infrastructure to power the next generation economy. PwC’s report helps quantify outcomes from such policies, while stating that ensuring the investment capacity of the telecommunications sector is a strategic imperative to maintain Canada\u2019s economic independence. <\/p>\n

PwC estimates the Canadian telecommunications sector contributed $87.3B in direct GDP, supported 661,000 jobs across various industries in 2024. Nearly two thirds of the direct GDP contribution arises from the increase in telecom connections. This drives improved productivity and business enablement across the entire economy. Between 2020 and 2024, PwC found that mobile connections grew at a compounded aggregate growth rate (CAGR) of 5%, while fixed internet connections grew at a rate of 2%. During that period, mobile service prices fell by more than 50%.<\/p>\n

The report argues that we aren’t just talking about investments for faster, cheaper mobile internet connectivity; it\u2019s a matter of “safeguarding national sovereignty, supporting secure digital commerce, and ensuring that Canadian businesses can compete globally through the adoption of the latest digital innovations that will improve productivity.”<\/p>\n

As the report shows, Canada\u2019s telecom companies, with a capital intensity ratio of 18%, face higher capital costs than global peers, such as the US, with a capital intensity of 14%, or Australia, at just 10%. Slowing revenue growth across the industry and an increasingly challenging regulatory environment are challenging the ability to make the investments needed to keep pace with demand.<\/p>\n

Canada is grappling with a long-standing productivity challenge, as labour productivity has grown just 1% over the past eight years. The telecom sector, by contrast, has seen 12.4% productivity growth since 2017, thanks to its role in enabling smarter, more efficient operations across the economy.<\/p>\n

PwC says “Canada\u2019s ability to increase productivity and build a stronger, more competitive and resilient economy depends on expanding and continuing to enhance Canada\u2019s high-quality telecommunications infrastructure.” According to the Canadian Telecommunications Association<\/a> (CTA): <\/p>\n

To secure Canada\u2019s economic future, policymakers must treat telecommunications as a national strategic priority. This means creating a regulatory environment that encourages long-term investment, identifying regulations that are no longer necessary or whose costs outweigh the benefits, and recognizing telecom as a foundational enabler of productivity and national sovereignty.<\/p><\/blockquote>\n

In his address at The 2025 Canadian Telecom Summit, CTA president Robert Ghiz said “telecommunications is more than just a provider of consumer connectivity. It is more than phones and data plans. It is economic infrastructure \u2014 as vital to Canada as roads, railways, and ports.”<\/p>\n

I couldn’t agree more. Strategically thinking, sustained investment in telecom infrastructure must be viewed as a foundational step toward building a stronger, more productive economy.<\/p>\n","protected":false},"excerpt":{"rendered":"

Is sustained investment in telecommunications infrastructure essential to building a stronger, more productive economy in Canada? That is one of the conclusions of a newly released PwC report commissioned by the Canadian Telecommunications Association. The Executive Summary of “Enabling Canada\u2019s Economic Independence and Global Competitiveness Through Telecommunications” [pdf, 905KB] opens with: Driven by substantial investments …<\/p>\n

Building a stronger, more productive economy<\/span> Read More »<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","two_page_speed":[],"footnotes":""},"categories":[1],"tags":[],"class_list":["post-19137","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"\nBuilding a stronger, more productive economy • Telecom Trends<\/title>\n<meta name=\"description\" content=\"Is sustained investment in telecommunications infrastructure essential to building a stronger, more productive economy in Canada? 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