Sunday, November 18, 2012

Emerging Online Markets in Developing Countries

The door opened for a new dimension in the information technology in 1840 when the great English mathematician, Charles Babbage invented the "calculating engine." Babbage was called the great-grandfather of Computer.

The Internet global perspective

Everything is now attainable with just a click of the finger making the journey across the globe a wonderful experience using a worldwide system of interconnected computer network known as the INTERNET. However, not every part of the globe enjoys the benefits of modern communication. The growth of modern information technology is as its best in developed countries like the US, Australia, United Kingdom and Japan in Asia. However, the expansion rate is struggling in developing countries.

According to Wenhong Chen and Barry Wellman, authors of The Global Digital Divide - Within and between Countries, "Telecommunications policies, infrastructures and education are prerequisites for marginalized communities to participate in the information age. High costs, English language dominance, the lack of relevant content, and the lack of technological support are barriers for disadvantaged communities using computers and the Internet.

IT's growth rate in developing countries

In developing countries like China, Brazil, Russia, Mexico and other countries, the need to the revolutionize the computer industry is needed to cope up with the growing society. However, IT alone is not a perfect solution, because development is always packed with challenges like poverty, political crisis, health and national development that requires equal attention.

In one article written by Jim Erickson, the "Top Emerging Online Market: China," he says China is the most promising emerging market in the world. This was bolstered by the recently conducted online survey, Online Retail Sales Growth for the period 2006 to 2011, which reveals that China is the emerging e-commerce giant retailer way ahead by 78% followed by Chile with only 27% market share and Brazil and Mexico sharing the same slot with 19%.

The role of government in IT development

Today, while developing countries are struggling to meet the demands of modern communications, there is so much to do with less developed countries. This is not only the concern of the internet business community to go for fast-paced development, but the concern as well of the country's political machinery. The government should also look into the adoption and development of modern communication. This would mean to provide financial support for technology, infrastructure development, policies and laws that will support and strengthen the IT industry of the country.

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