Digital economy offers ‘unprecedented opportunities’ for wealth creation

Digital economy offers ‘unprecedented opportunities’ for wealth creation

The rapid rise of technological advances and digital adoption presents the UAE with “unprecedented opportunities for wealth creation”, according to a report by Boston Consulting Group (BCG).

In its report, Middle East-based experts from the global strategy consulting firm explored the state and future of the digital economy, defining the landscape as a three-tiered ecosystem consisting of digital activity at so-called core, broad and narrow levels.

Core activity refers to all activity that centres around ICT products and services (technology sector), narrow activity relates to all activity reliant on digital inputs (digital businesses), while narrow takes the scope one step further, also including all economic activity that is augmented by the use of digital inputs (the digitalised economy).