The use of the Internet is growing at a high speed worldwide. According to the Internet world stats website the worldwide penetration rates of the Internet is 25.6% in 2009. Under developed nations of Africa, Asia and Latin America are also showing high growth rates in Internet usage. Between the year 2000-2009, Africa shows 1,392.4 %, while Asia and Latin America show 545.9% and 890.8% growth rates respectively.
This fast growth rate in Internet usage in the developing countries affects their international trade situation highly. Nations such as India and China are now becoming among the major participants in this global business environment. They increased their competitiveness highly. Other developing nations from Africa and Latin America are also showing advancements too.
As a result of this high growth in Internet usage and penetration in E-commerce, the above nations are showing high progresses and advancements in their economies. Their products and services are now reaching long distances around the world. Other developing countries also have to take lessons from these model nations. If they can give enough attention to the industry and can do the desired tasks, they can see the economic transitions that the above model nations are able to see.
Thus, in order to see those results first of all each and every developing country needs to know and believe that E-commerce is now becoming an obligation to compete in the global business environment. Globalization is making our world a small village and highly simplifying business activities. Today entering to the global business network is a very simple task as people from one corner of the world is now reaching people in the opposite corner of the world just from their bedrooms. In addition, individuals, companies and nations as a whole are getting tremendous financial benefits and raising their competitiveness in the global market.
If developing nations want to grow their economies, entering and competing to the international business is mandatory. And doing business electronically (E-commerce) is now the technology level that business environment today reaches. Therefore, these nations need to put the advancement of Information and Communication Technologies and E-commerce among their priorities. This asks the collaboration of all concerned bodies, professionals, government bodies, law and policy makers, banks and the society as a whole.
What It Takes To Achieve Financial Freedom
The Effects of Globalization on Both Accounting Profession and Education
Business Continuity Management for the Utility Sector – Ascent