The purpose of this study is to investigate if growth in ICT investments affects output growth differently across four income groups. Our panel data analysis is based on a sample of 101 countries in the period 1995-2015, where we conduct an augmented Cobb-Douglas production function with GDP growth as dependent variable. We divide the regression sample into high-, upper middle-, lower middle- and low-income countries to account for income disparities across countries. The outcomes are measured by estimating both ordinary least square and a fixed effects model. The impact of capital investments is measured by using two variables; growth of ICT capital services and non-ICT capital services. In addition, we control for exports and the growth in labor quality. Our major findings show that there are only significant contributions to growth in the top-three richest countries, with exception for the middle-income countries when controlling for fixed effects.