By the daily Star
The Lebanese ICT sector
holds a lot of economic potential given its fast-growing pace and its
vast reach to the different aspects of consumers’ daily life, health,
transport, etc. In fact, the sector’s added value amounted to $1.3
billion in 2013 and is estimated to have reached $1.7 billion in 2016,
hence contributing to more than 3 percent of gross domestic product. The
ICT sector is considered the fastest-growing sector of the economy
after recording a 7 percent compounded annual growth rate (CAGR) in the
last two years alone.
According to Business Monitor International,
the market size of information technology, which is an expanding
segment of the ICT sector, registered a 12.6 percent CAGR in the last 10
years and is expected to hit $436 million in 2016 and $466 million in
2017.
The wave in favor of data usage seems to be modifying the
ICT market’s dynamics in Lebanon. Between 2013 and 2015, according to
the Telecommunications Ministry, the number of subscribers for broadband
internet more than doubled, going from 480,000 to 1.24 million.
Similarly, mobile data subscriptions hit 2.92 million in 2016 as
compared to 2.02 million in 2015.
In the same context, low-cost
Voice over Internet Protocol services through mobile devices boosted
demand for data services at the expense of the standard calling
services. Considered as the most successful technology of the last
decade, VoIP services such as Skype, Viber and recently WhatsApp are
becoming more popular among the Lebanese population as they provide a
cheaper alternative for communication services. In fact, revenues
deriving from voice calls are witnessing a double-digit decline
simultaneously with data usage growing at a double-digit pace. “In fact,
more than 50 percent of Alfa’s revenues are derived nowadays from data
services rather than voice” said Marwan Hayek, chairman and CEO of Alfa.