Venezuela: difficulty to get new Information and Communication Technology
Hello, currently I had to make a research about this topic as a homework for university. I'd be glad if you upvote it and reply with your opinion.
Now,
(Image gotten from google)
Since a few years, Venezuela has suffered the worst economic crisis in the history, with the biggest inflation in the american continent and one of the biggest in the world. Talking about the inflation level, three years ago in 2014, it was around 68.5%, now, the International Monetary Fund has expected that 2017 will close with an inflation of 720.5%, then with 2068% in 2018.
Purchasing Deficit
(Image gotten from the Daily "El Impulso")
According to Luis Maturen, Manager of the polling company DATOS, 9 of 10 venezuelans has not purchasing power, bringing as a consequence the change of customs.
Since people just can buy a bit of food because the established payment don't allow to get other things, customers have changed their habits, giving up luxury to buy food; this means that people in many times don't go out, don't buy things like a cellphone (very important nowadays) or even can't save money by the high prices of all products, including food.
You can see an example when you know meat can be cheaply upon Bs. 10.000, equivalent to 10 million of the "old bolivares".
Summarizing, if you have difficulty to buy food, you won't have to buy a cellphone.
Importation Levels
Another reason why it's not easy to get a new mobile, or maybe a notebook is the importation. That's because as importation levels have fallen, the price of products increase terribly, principally by the dollar change regulations, which are not applied with all companies, so most of companies get their products with the "black dollar" that is upon Bs. 7.000.
Why do I talk about Importation as a reason?
(Image gotten from the daily 2001)
As I said, Importation levels have fallen in a terrible way. According to the daily 2001, the fall of importations in 2016 was the worst in 33 years with 60% less, as said Miguel Pérez Abad, Minister of Industry and Business. So, with 40% of importation FOR THAT MOMENT, you can imagine how the prices are.
An example, a new cell phone can be upon Bs. 1.000.000, equal to 1.000.000.000 of the "Old Bolivares".
So, that's a summary of my investigation, I don't know too much about Economy, but that was the homework.
If you have another opinion or you want to add information, you can leave it replying.
Thanks for read my post. I'd be grateful if you upvote it.