History: The countries of the European Union have faced one of the worst financial and economic
crises of the recent history. The crisis impacts several social – economic indicators with multiple effects on societies
and market sectors such as the Information and Communication Sector (ICT), which has been identified
as a key factor for social and economic growth.
Objectives: Although there are several studies that deal with the implication of the crisis, only few analyze the
implications of the financial and economic crisis to the growth of ICT sector. Therefore, the scope of this paper
is to explore the correlation, if any, between the impacts of the financial crisis and the growth of ICT sector, giving
emphasis to the penetration of broadband services, as well as, coverage of broadband networks both of the
fixed and mobile markets.
Method: The analysis is mainly based on the examination of several quantitative indicators relevant to ICT sector
over the period of crisis.
Conclusion: The findings of this paper strongly indicate that although there is no strong correlation, from statistical
point of view, between the impacts of the crisis and the growth of ICT sector, a more qualitative based
analysis reveals the influences of the crisis on that sector. More specific, the financial crisis slowed up the penetration
of mobile broadband service penetration, as well as the level of network investments and the reve-nues