Last updated: 17 Nov 2024 Update History
Report Status: Current
Report Pages: 166
Analyst: Henry Lancaster
Since 2022 Armenia has had to contend with an ongoing and brutal conflict with neighbouring Azerbaijan over the disputed territory of Nagorno-Karabakh, as well as the knock on effects on its economy resulting from extensive sanctions against Russia, its principal trading partner. The country struggled to build economic momentum and independence since breaking away from the Soviet Union in 1991, and these events have only served to further delay Armenia’s prospects for economic recovery in the short to medium term, even though anticipated GDP growth of 5% in 2024 suggests investor confidence.
Armenia’s telecom sector has nevertheless continued to make progress, supported by the government which is keen to promote Armenia as a regional technology hub. It has sought to attract Armenians living abroad to return and develop technologies which can help drive domestic economic growth. In addition, the fixed broadband sector has largely moved away from copper to fibre, with fibre having accounted for more than 83% of all fixed connections in early 2024. In the mobile segment there have also been steady moves away from 3G to LTE and 5G, supported by western firms including Nokia and Ericsson.
Team Telecom Armenia, Ucom, Viva Armenia, Ovio
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