What will be the real impact of the 5G network on the European economy?

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What will be the real impact of the 5G network on the European economy?
What Will Be The Real Impact Of The 5g Network

What will be the real impact of the 5G network on the European economy?

5G has long been subject to heated debates about its benefits and possible risks, to the point that some conspiracy theorists have decided to set fire to antennas in protest. As if that wasn’t enough, one of the major promoters of the fifth-generation mobile network is Huawei.

The Chinese giant is not doing well because of tensions with the United States and its influence in Europe. With the ban by Donald Trump and the latest comments from the FCC, the situation has further worsened and even more negative news is coming from European soil for the Shenzhen company.

With the rise of Nokia and Ericsson on the telecommunications infrastructure market and this hatred of Chinese technologies, Huawei is now increasingly excluded. This though it could also harm the European economy.

According to research by Oxford Economics, Huawei’s exclusion from the 5G market in the west could cause one rising prices for equipment necessary to guarantee and develop this new network. This increase in costs will cause many difficulties for operators, who will, therefore, have to delay the launch in several areas of the continent, and also to the various European countries and their economies.

To talk to numbers, in Italy it would be a cost of 282 million euros and a 2035 loss of GDP in 2035, while 12% of the population would not have access to 5G. However, these figures are variable and it all depends on the true impact that the new mobile network will have on the economy. And also in this area, the research conducted by Oxford Economics shows us interesting data.

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By quoting the report directly, “The potential future benefits of 5G are difficult to predict. 5G may end up being just an improvement on existing 4G technology”. Therefore, it is evident that the effects of this technology on the economy are not yet known, therefore perhaps going to disprove one of the mottos with which it was promoted by companies.

The reality is therefore still very clouded and the future of 5G uncertain. We just have to see how the situation will evolve and how the market will respond to these new political and economic measures.