The role of information and communication technologies in a country's GDP: a comparative analysis between developed and developing economies

The accelerating diffusion of information and communication technologies (ICTs) opens up increasing interactions between nations and between social groups at all development levels. The purpose of this study is to assess the impact of ICTs on the gross domestic product (GDP) of countries at different development levels. The investigation of this study shows that in developing nations, the growth of the ICT sector is mostly consumer-oriented and focussed on the provision of electronic services for ultimate customers. On the contrary, in developed countries, it concentrates on the expansion of digitalisation with increasing socio-economic interaction. In developing nations, the ICT sector's contribution to the GDP is unlikely to increase. A few exceptions are China, India, Malaysia, and Serbia, which are among the top ten leading economies in terms of the growth of the ICT sector. In general, the role of ICTs in the GDP largely depends on the production structure, level of economic development, and employment rate. The results of this study can be useful for countries' strategic development in ICTs and for improving their digital indicators in the future.