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World Bank Study: Israel’s advanced communication technology improves job opportunities and economy

by Karen Faulkner, Worthy News Correspondent

(Worthy News) – A World Bank study that studied the effects of Israel’s advanced infrastructure in high-speed internet access, has found that the availability of such advanced communications technology improves employment opportunities and the economy, the Jerusalem Post (JP) reports.

World Bank vice president and head of global infrastructure, Riccardo Puliti presented the findings of the study to Israel’s Communications Minister Yoaz Hendel on Monday, JPost said. “Israel ranks first in the world in the rate of fiber deployment, so it is natural that the World Bank chose to present here the study on the benefits of advanced infrastructure,” Hendel said in a statement.

The World Bank study found that high-speed Internet access increases job opportunities by 7% to 13% and that every percentage increase in high-speed Internet use increases GDP by up to 0.4%, JPost reports.

Israel’s Communications Ministry has expanded fiber-optics access from 18% of households at the beginning of 2020 to more than 60% today, JPost said. The Ministry plans to reach 70% of households by the end of the year.

“We‘ve shown the world how to bring advanced infrastructure even to places where there is no economic viability,” Hendel added. “This government has advanced the periphery more than any of the previous governments. We proved that what they did not do was possible, and we brought fiber to every corner of the country at record speed.“High-speed Internet means rapid growth, opening up employment opportunities and quality of life.”