
U.S. Wireless Firms InvestSignificantly More thanEuropean Counterparts U.S. wireless firms invest over 2.5 times more than Europeancounterparts, creating significant advantages for consumers and TABLE OF CONTENTS Introduction�����������������������������������������������������������������������������������������������������������������������������������������������������3The United States Drives Global Wireless Investment������������������������������������������������������������������������������������4Comparisons Show U�S�Wireless Operators Invest Over2�5 Times More Than European Counterparts������������������������������������������������������������������������������������������������5Omdia Investment Data���������������������������������������������������������������������������������������������������������������������������������������������������������5GSMA Intelligence Research��������������������������������������������������������������������������������������������������������������������������������������������������6 Endnotes���������������������������������������������������������������������������������������������������������������������������������������������������������10 Introduction Numerous European executives and policy leaders have recently lamented the relatively poor state of Europe’s digitalinfrastructure. A letter from nineteen CEOs complained that low levels of mobile network investment risked Europe laggingin a range of mobile-enabled technologies like artificial intelligence, smart grids, and industrial automation.1The CEOspointed to the recent comprehensive analysis of European competitiveness spearheaded by Mario Draghi for the European Similarly, the CEO of Ericsson has recently pointed out that “U.S. mobile operators invest twice as much per capita in mobileinfrastructure compared to their European counterparts,” which he finds particularly alarming because “[e]arly investmentsin mobile enabled the United States to achieve a scale in the digital platforms that Europe currently struggles to match.”3At Indeed, the United States provides a contrast to Europe’s investment challenges. The U.S. wireless industry invests atremendous amount of money in order to offer world-leading 5G networks, far more than Europe on both an absolute andper-population basis. This is in part thanks to a more favorable policy environment in the United States that encourages This difference ripples through our respective economies and has real world implications for both consumers and innovators.Mobile industry investment is a proven force multiplier for the economy. Better wireless networks continually deliver greatervalue for residential and business consumers, amplifying innovation and productivity across different sectors. Looking at theoverall impact of this investment, the wireless industry supports as much as $825 billion in GDP and 4.5 million jobs annually All of this growth can be traced back to the investments made in wireless infrastructure. A review of recent investment datavalidates the concerns of European leaders and the importance of the U.S. promoting investment-friendly and innovation-encouraging policies. If anything, Europe’s mobile investment problem is even worse than the “half of that in the U.S.” “And this is about to matter even more in the age of artificial intelligence. As the CEO of Vodafone warned, Europe risks an AIbottleneck if it does not strengthen its wireless networks. AI innovation will requires capacity, density, and advanced networks.AI and 6G will thrive where a strong 5G foundation already exists. The countries that invest early and aggressively in wirelessinfrastructure will be the ones best positioned to lead in AI-driven services, autonomous systems, immersive applications, and - Timotheus Höttges, CEO, Deutsche Telekom Wireless Firms Invest Significantly More than European Counterparts | 3 The United States Drives Global Wireless Investment The United States benefits from a huge annual investment by the wireless industry in our nation’s infrastructure. As PresidentTrump has recognized, 5G networks are “a vital link to America’s prosperity and national security in the 21st century,” making Overall, the U.S. wireless industry has made a $734 billion cumulative investment in wireless network infrastructure.8Nearlya third of this wireless network capital expenditures—over $219 billion—has been invested since 2018.9Last year alonesaw more than $29 billion invested into U.S. wireless networks infrastructure.10To put that in perspective, U.S. providers These figures are only for investments in wireless infrastructure, and so significantly under-represent the total investmentmade by the wireless industry each year. Broadening the scope of to include investment that supports wireless and otherbusiness operations shows that from 2020 to 2022, the major publicly-traded wireless providers invested a combined averageof $54 billion per year.11If we e