Summary
The digital economy will see 7% CAGR from 2023 to 2028, capture 17% of GDP, and reach $16.5 trillion by 2028. Online retail and online travel are the principal drivers of digital economy growth. Digital economies are predominately driven by consumers, tech spend, and information and communication technology (ICT) exports. The top six digital economies by size are the US, China, the UK, Japan, Germany, and South Korea. Almost two-thirds of the digital economy comes from the US and China. To nurture digital economy growth, countries focus on digital businesses and public services, digital skills availability, and the growth of R&D spend.
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