ICT responsible for 50% of Europe’s productivity grown

According to the annual report on the EU’s i2010 project, ICT was responsible for almost 50% of European Union total productivity growth between 2000 and 2004, due to increased public and private investment in the sector.

The i2010 project encourages an integrated approach to ICT from companies, researchers and governments.

The annual i2010 progress report found that the technology sector is growing significantly quicker than the European economy as a whole. Software and IT services was the fastest growth area with 5.9% growth in 2006 to 2007.

It seems that technology is fuelling innovation and productivity as part of Europe’s transition to a knowledge-based economy.

This is supported by a substantial increase in broadband connections for the year to October 2006, when a record 20.1 million new fat pipes were connected.