There is a pressing need to kick start the COVID-19 recovery and build back better, a need recognised by the European Union’s €672.5 billion Recovery and Resilience Facility.
If successful, the benefits to Member States, their citizens and their businesses could be transformative – economically, socially and environmentally.
The European Commission has highlighted that the cumulative additional GDP contribution of new digital technologies could amount to €2.2 trillion in the EU by 2030 . In our new report, ‘Digital for Europe: collaboration, innovation, transformation’ report we go further, looking not only at the economic benefits of digital, but also the positive social and environmental impact digital can deliver.
We also know that there are huge challenges in achieving these benefits – the European Commission also acknowledges there is a gap of €125 billion per year to meet the investment needs of the digital and green transition. This means we all need to work together– industry, governments, policy makers – to invest in Europe’s digital future. In the 5G industrial revolution, in democratising healthcare, in closing the digital divide and digitising SMEs. If this is done, Europe can establish strong foundations needed to generate a digital dividend for current and future generations. In turn, this will enable Europe to accelerate out of the crisis, create jobs and growth opportunities and position Europe as a global leader.
We commissioned Deloitte to conduct a high-level analysis on the potential contribution of National Recovery and Resilience Plans (NRRPs) towards the Digital Decade targets. This study, titled Achieving the Digital Decade: Recovery & Resilience Plan Contributions covers 20 Member States and the overall EU progress towards these targets. The 20 Member States included are Austria, Belgium, Croatia, Cyprus, Czechia, Denmark, France, Germany, Greece, Hungary, Italy, Latvia, Lithuania, Luxembourg, Poland, Portugal, Romania, Slovakia, Slovenia and Spain. Based on this financial analysis, gaps appear greatest in regard to digital infrastructure, ICT specialists, the digitalisation of SMEs and cloud adoption. Furthermore, the study shows that the national and EU recovery plans for connectivity amount to just 46% of the estimated €210bn EU-wide investment needed to meet 2025 targets.
We have created a series of papers that explore a range of digital opportunities that could help Europe achieve the EU’s ambition for a truly Digital Europe, a Europe that is greener, more inclusive and more resilient.
They show how, by putting digital transformation at the heart of the recovery agenda, we can deliver:
Our report, ‘Digital for Europe: collaboration, innovation, transformation’, shows how investing in Europe’s digital future can generate a green, inclusive dividend for current and future generations.
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