Digital Leapfrogging Could Boost Region’s Economy by Billions – McKinsey


Digital Leapfrogging Could Boost Region’s Economy by Billions – McKinsey
  1. Digital Leapfrogging Could Boost Region’s Economy by Billions – McKinsey
    venturemagazine.me
    With proper implementation, digital leapfrogging could add $95 billion to the Middle East’s annual GDP by 2020, according to McKinsey & Company’s regional head. The international consultancy has been researching into how digital leapfrogging has the potential to be a... The post Digital Leapfrogging Could Boost Region’s Economy by Billions – McKinsey appeared first on Venture Magaz…
    Technology

With proper implementation, digital leapfrogging could add $95 billion to the Middle East’s annual GDP by 2020, according to McKinsey & Company’s regional head.

The international consultancy has been researching into how digital leapfrogging has the potential to be a huge opportunity for the MENA region. Tarek Elmasry, managing director for the Middle East at Mckinsey & Company, said the three traits that make the Middle East’s population unique are that they’re connected, unemployed, and educated. “There might be a billion such people globally by 2030,” he said. “If we can create the right environment to support digital development and entrepreneurialism, this would have many benefits, such as economic growth and higher productivity.”

Not only will technology impact the private sector, Elmasry added, but it will also make waves by impacting humanitarian systems being used throughout the region. For this reason, it’s essential the correct policy framework is created to encourage digital innovation and digital venture capitalist fun…

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