Abstract: The effects of information technology in every facet of human endeavour have become very tremendous as information technology tool keep redefining and restructuring society. It is, therefore obvious that its impact on the global economy is tremendous as it has redefined world economic concept. The impact of industrial revolution and many previous technologies cannot be compared to that of information technology revolution. The major aim of this study is not just to eulogise the great effects of information technology on world economy but to also bring to the fore the attendant divide the use and access to the tool is creating between less developed and developing communities, nations and continents. In order to achieve this objective, researchers did review the various testimonies about the impact of information technology in different human endeavours and by extension world economy. The data used are basically secondary data with which researchers surveyed, narrated, explained and drew inferences. The result shows that apart from the digital divide that exists between the technologically advanced and technological less advanced, information technology is a great enabler of development and therefore has impacted positively to world economy through increase in productivity, educational advancement and access, community development, creation of empowerment and enhanced economic growth.