Telecommunications Industry Fuels Economic Growth In LatAM.

Despite the beating the telecom industry has taken from the financial markets around the world this past year, the continued rapid growth of the telecommunications sector in Latin America will provide the backbone for sustained regional economic development through 2005, according to Latin Venture.

“The unabated growth in the region’s telecommunications markets will stimulate further economic opportunities and efficiency in Latin American economies in coming years,” says David Bernad, president and chief executive officer of Latin Venture. Latin Venture analysis and projections on telecom in the region demonstrate a continued robust growth:

· Mobile phone subscribers will increase from 66 million last year to more than 97 million by end-2005;

· Cable and MMDS pay-television households will grow from an estimated 14.8 million last year to 23.8 million by end-2005;

· Total broadband subscribers (via cable & DSL) will jump from just 500,000 last year to more than 4.3 million by 2005; and,

· Internet users will increase from an estimated 9.4 million last year to 52 million by 2005.

“The numbers are very compelling and signal to Latin American government and business decision-makers that they need telecommunications growth now in order to build their economies of the future,” added Bernad.