The number of internet users in Mexico is growing at a rapid speed, reaching 79.1 million at the end of last year, an increase of more than 15 million users over a one year period.

That means 67% of the population is currently using the web, according to the annual study by the Mexican Internet Association.

The sudden surge in internet users is largely due to telecom reforms, which stoked competition among telecom carriers, prompting them to cut back on service prices.

Mobile telephony costs alone fell by a record 45%, according to IFT. With AT&T and America Movil vying for the largest slice of the pie, analysts say telecom prices may drop further in the years to come.

The high growth in net users will certainly have a profound impact on the commerce and communications industry in the country, potentially boosting digital services and sales through the web.

Millennials seem to have glued themselves to the web, with people aged less than 24 years accounting for 51% of internet users in the country, according to the Internet Association. Young people are increasingly abandoning traditional media in favor of the web, which they can access whenever and wherever they want to.

People browse the web an average of eight hours a day, compared to the three hours they spend watching television. Social networks have turned out to be the favorite hangouts for Mexican youths. In the country, the most popular networking site is Facebook, with nearly 98% of internet users having an account with the site.

Other social media sites, such as Whatsapp, Twitter, and Youtube, also enjoy a significant viewership.