2020 is the target year for Australia to become one of the world’s leading digital economies. The National Digital Economy Strategy outlines the Australian Government’s eight Digital Economy Goals that will see it achieving its vision.
What is a digital economy?
The Australian Government in its paper ‘Australia’s Digital Economy: Future Directions’, defines the digital economy as:
the global network of economic and social activities that are enabled by information and communications technologies, such as the internet, mobile and sensor networks.
To support Australia in achieving its vision to become a leading digital economy, implementing, and developing the eight National Digital Economy goals will help Australia to achieve this. These are:
1. online participation by Australian households
2. online engagement by Australian businesses and not-for-profit organisations
3. smart management of our environment and infrastructure
4. improved health and aged care
5. expanded online education
6. increased teleworking
7. improved online government service delivery and engagement
8. greater digital engagement in regional Australia
Why is it important to embrace a digital economy?
According to research conducted to develop Australia’s national digital strategy, increased digital engagement can boost productivity. Allen Consulting commented that ‘a ten per cent increase in Australians using the internet is estimated to produce an increase of 0.44 per cent to Australia’s Gross Domestic Product (GDP).’
Other benefits of embracing a digital economy:
- businesses can bridges distances between regional and rural Australians and improves services delivery
- government can reduce costs, and provide easier access for Australians to government services online
- community can interact with the wider community by participating in online forums and discussions
The wider social and personal benefits for Australians will promote an increased connection with an online social community; this can help reduce feelings of isolation and enhance family relationships.
For more information on how the National Digitial Economy Strategy and its initiatives may benefit your business, read The National Digital Economy Strategy and Advancing Australia as Digital Economy: An update to the National Digital Economy Strategy