Digital products & services to drive 60% of Singapore's GDP by 2021, predicts study

SINGAPORE (Feb 21): An IDC study commissioned by Microsoft predicts that digital transformation will add about US$10 billion ($13.2 billion) to Singapore’s gross domestic product (GDP) figures by 2021 with an annual increase in GDP growth rate by 0.6%.

Entitled Unlocking the Economic Impact of Digital Transformation in Asia Pacific, the survey was conducted among mid- and large-sized companies across 15 economies in the region, and looks into the impact on and disruption of traditional business models as a result of digital transformation.

Out of the 1,560 business decision makers surveyed, 100 of the respondents from Singapore, out of which 98% said they are in the midst of their digital transformation journey.

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