This report from Deloitte Access Economics examines the benefits to households of high speed broadband in 2020 when the use of digital tools will be widespread across the economy. Deloitte assessed potential household benefits in the areas of communications; e-commerce; e-health; online education; e-government services; savings from an increase in telework; and the flow-on benefits to households from business productivity.
High-speed broadband is transforming our economy and society, with major implications for households, business, governments and the environment.
The report looks over the horizon to 2020 when Australia’s economy will be a fully digital economy, powered by the National Broadband Network (NBN). Recent developments like smartphones, apps and social media will be more deeply embedded, while video content, the cloud and machine-to-machine technologies will be widespread.
Households will benefit from improved communications, greater choice and competition from e-commerce, more online services, greater employment opportunities, including through telework, and savings in time and money from reduced travel. They will also experience improvements in goods and services quality and/or lower prices as businesses take up new productivity-boosting applications of the digital economy. There will also be environmental benefits from reduced travel and other applications.
Our estimate is average annual household benefits will be worth around $3,800 in 2020, in current dollars. Around two-thirds of these benefits ($2,400) are financial benefits, the rest are the equivalent monetary value of consumer benefits such as travel time savings and convenience of e-commerce.
The research reported in this publication was commissioned by the Australian Government Department of Broadband, Communications and the Digital Economy. The information and opinions contained in it do not necessarily reflect the views or policy of the Department of Broadband, Communications and the Digital Economy.