The State of Electronic Commerce in Developing Nations
Internet usage is growing at a high rate worldwide. According to the Internet World Statistics website, the global level of Internet penetration was 25.6% in 2009. Developed nations in Africa, Asia, and Latin America also show high growth rates in Internet use. Between 2000-2009, Africa showed 1392.4%, while Asia and Latin America showed 545.9% and 890.8% growth rates respectively.
This rapid growth rate of Internet usage in developing countries has a strong impact on their international trade situation. Nations such as India and China are now emerging as major players in this global business environment. They significantly increased their competitiveness. Other developing nations from Africa and Latin America are also showing progress.
As a result of this high growth in Internet usage and penetration of e-commerce, the above nations are showing great progress and advancement in their economies. Their products and services now reach great distances around the world. Other developing countries should also take lessons from these model nations. If they can pay enough attention to the industry and can perform the desired tasks, they can see the economic transitions that the above model nations can see.
Therefore, to see these results, every developing country must know and believe that e-commerce is now becoming a must to compete in the global business environment. Globalization is turning our world into a small village and greatly simplifying business activities. Today, entering the global business network is a very simple task, as people from one corner of the world now reach people in the opposite corner of the world just from their bedrooms. In addition, people, companies and nations as a whole receive enormous financial benefits and increase their competitiveness in the global market.
If developing nations want to grow their economies, entering and competing with international business is a must. And doing business electronically (e-commerce) is now the technological level that the business environment has reached today. Therefore, these nations must place the advancement of information and communication technology and electronic commerce among their priorities. This requires the cooperation of all concerned bodies, professionals, government bodies, legislators and politicians, banks and society at large.
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