Telecommunications investment refers to the investment during the financial year in telecommunication services (including fixed, mobile, and Internet services) for acquiring or upgrading property and networks. Property includes tangible assets such as plant, intellectual, and nontangible assets such as computer software. The indicator is a measure of investment in telecommunication infrastructure in the country, and includes expenditure on initial installations and additions to existing installations where the usage is expected to be over an extended period. It excludes expenditure on research and development (R&D), annual fees for operating licenses, and the use of radio spectrum.