Wednesday, December 8, 2021

Digital technologies can add Rs.9.7 trillion in Pakistan’s annual economic value by 2030 - Daily Pakistan Global

Last updated Wednesday, November 24, 2021 06:44 ET , Source: TopWireNews

KARACHI – Digital transformation can help Pakistan unlock up to Rs.9.7 trillion (59.7 Billion USD) in annual economic value by 2030, equivalent to about 19% of the country’s GDP in 2020, according to a new report commissioned by Google.
The report — released at a recent Google / [email protected] online event, “Unlocking Pakistan’s Digital Potential” - finds that Pakistan has a thriving technology sector. The country is home to more than 300,000 IT professionals, produces over 25,000 IT graduates annually, and has nurtured over 700 tech start-ups since 2010. Technology exports have grown 15% per year since 2020 and are expected to reach USD3.5 billion(Rs. 610,750,000,000) in 2022. Pakistan’s online population has grown rapidly and the internet penetration rate is reaching 54% in 2021.
Despite these many achievements, Pakistan can go further in its digital transformation journey. The report, prepared by economists at AlphaBeta, identifies three main pillars of action Pakistan could take to reach the projected growth opportunity. This includes developing infrastructure to support the local tech ecosystem, continuing to create a conducive environment for IT export, and promoting innovation and digital skills in the country.
There are eight key technologies that hold transformative potential for businesses and workers and can create significant economic value for Pakistan. These include the mobile internet; cloud computing; big data; AI; fintech; IoT and remote sensing; advanced robotics;...

Read Full Story: https://en.dailypakistan.com.pk/24-Nov-2021/digital-technologies-can-add-rs-9-7-trillion-in-pakistan-s-annual-economic-value-by-2030

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