Issues facing the digital economy will be top of mind at the Digital Market 2017, to be held on January 11-13, 2017, in Hannover, Germany. As a starting point for forum's discussion, it's worth reviewing what is at stake and why are developments in digital markets and online commerce are are a critical part of the world's economic future.
The Internet and the digital economy are in the process non-stop innovation on both sides of the Atlantic. They are a source of jobs and growth, an enabler of global trade, a path to economic opportunity, and a platform for development of new markets and social engagement. The Internet economy already represents over 4.7 percent of U.S. GDP. According to market analysis, in G-20 developed markets the Internet economy is expected to grow at an annual rate of 8 percent over the next five years, far outpacing just about every traditional economic sector. For many people, the digital economy will where they find their next job or their next business opportunity.
But we cannot take this success for granted. Businesses need to deal with new technologies and disruptive forces. New barriers to the free and open Internet could undermine the ability to communicate and do business globally. Concerns over cyber security and consumer protection risk eroding trust in e-commerce. And businesses and workers will need new skills and greater access to compete in the global IT landscape and to share in the prosperity it offers.
This is why we should watch closely any new developments in this area. This year our forum will focus on four key opportunities:
Government and private sectors are essential partners in these efforts to promote an open digital economy that offers opportunity and improves lives around the world. So far, corporate sector leads in considering the broad issues facing the digital economy. Yet, governments catch up the ternd.
Greater innovation and investment in the digital economy are a pathway to greater growth both in established and emerging markets. More broadly, technology will shape what kind of global Internet we have, and whether it will continue to be an engine of opportunity worldwide. There is a lot of new technology trends to consider. At the Digital Market 2017 we will be sharing more thoughts on new technologies shaping digital marketplace.
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