SETU Digital Economy

 The Digital Economy in Ireland

The digital economy is a term for all of those economic processes, transactions, interactions and activities that are based on digital technologies. According to Thomas Mesenbourg the three components of  a digital economy are infrastructure, e-business, and e-commerce

The  Digital Economy and Society index is a ranking of the overall digital performance in Europe it also tracks the progress of EU countries in their digital competitiveness. This year Ireland ranked fifth in the DESI rankings which were announced in August with a average yearly score of the DESI index of 8.5%. 

DESI ranks the countries based on the following criteria:

1. Human Capital
2. Connectivity
3. Integration of digital technology into enterprises
4. Digital Public Services

What does this mean for Ireland?

According to the report: “Ireland can be considered a forerunner in the EU on the integration of digital technologies, and as such is expected to make a significant contribution to the collective efforts needed to reach the Digital Decade targets

                                                                                                                    Source: European Commission

                                                                                                                      

The Future

According to a report conducted by Microsoft titled Digital Ireland, digitalisation could have a value of more than €300 billion in 2023, this is a significant figure and would prove very beneficial to the government after the recent announcement of Tuesdays budget accompanied with the continuous rise in the cost of living.

The way in which business has been conducted since the pandemic has. changed significantly and many of these changes have become permanent. Speaking from personal experience, the number of online deliveries in the shop I work increased by 400% during the peak of COVID. although the demand for online deliveries is no longer this high, many people have continued to avail of the online delivery option due to the convenience. Zoom calls have also changed the business landscape with people choosing to adapt the hybrid model of working by working from home and in the office. These evolvements would not be possible if it wasn't for the digital landscape in Ireland.

Who knows what the future holds for the Digital Economy in Ireland

Blog Roll

https://icdl.ie/ireland-ranks-fifth-in-the-2022-digital-economy-and-society-index/

https://www.irishtimes.com/sponsored/microsoft/digitalisation-makes-things-simpler-and-changes-the-way-you-do-business-1.4755838