The US is one of the most attractive locations for investment in information and communication technology (ICT). It is the world’s largest consumer of ICT products and services, and in many sectors, such as personal computers (PCs), it is also home to the world’s largest producers. US dominance of the ICT industry is based partly on its sheer size, with a population of 300 m+ and higher average income levels. The US Department of Commerce estimated the output of IT-producing industries came to US$872bn (in 2003).
The US is also the world’s largest exporter of IT goods and services, with estimated sales by US IT companies and their overseas affiliates of more than US$ 1,000 bn. The ICT-producing industry group continues to be an engine of GDP growth, accounting for 15.3 percent of real GDP growth in 2005