The fast development in technology, which brought about the information age has turned into the basis for defining power in the modern communities. It is a broadly welcomed fact that non-of the modern economies can live without an integral information technology and telecommunications infrastructure on board.
The value of products and services is increasing to become a function of their knowledge content and the information used to produce them instead of the raw material content.
Thus, the ability to access easily and share knowledge and apply stimulus to the formation of new ideas or views, is looked at as basic to the up keep of an economy that is strong and promoting quality of life of all citizens in all countries of the globe.
Access to telecommunications is censorious to the growth of all events of the country’s economy involving manufacturing, banking, education, agriculture, trade and commerce, and good governance and the effect of these is seen in both public and private sectors.
Telecommunications networks are now making at able for developing nations to get involved in the global economy in states, which simply were possible for the past years. Telecommunication has been having fast development all over the world.
Increased acquisition of ICTs, in developed communities means that business in growing nations must either acquire ICTs or become less competitive and therefore continue to remain behind. Interesting enough, not so far in the past, the growing economies begun to set up new strategies by forming and enabling the environment to enhance development of ICT infrastructure and its use. With the stride made so far, available indications reveal that the big gap which was there between the developed and developing world has begun to gradually become smaller through the support and desire by the governments to fully get involved in the ICT policy formations and implementation.
Effect of Internet communication tools for example telephones and the Internet, are increasingly censorious to countries’ economic success and personal progress. The beginning of the internet has been described mostly as significant for community as the development of the personal computer, the telephone or even the media press.
The Internet performs various roles like virtual community electronic market place, and information source, employment portal those looking for jobs, research center, discussion forum and entertainment center, to mention but a few.
Through the Internet, people form new businesses or promote the delivery of essential needs, for example medical care plus education. Nearly all countries of the world are on-line and at the beginning of the year 2004, there was an approximated number of more than 600 million people all over the world. Those who use the Internet grow at a very stable rate very year.
The development of the Internet brings out chances for new high sped data networks, new multimedia applications, voice over Internet Protocol (VOIP), sharing of knowledge among those who use the Internet and coming together of technologies.