Two-thirds of this surge is attributed to adopting digital solutions across other industries, including finance, trade, and manufacturing
With its meteoric rise and substantial contributions to GDP and employment, Singapore’s digital economy is undoubtedly poised to continue shaping the nation’s economic landscape in the years ahead, as evidenced in the insights within the Singapore Digital Economy Report.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
S’pore’s digital economy contributed 17.3% to GDP in 2022More than 200,000 tech jobs were created in 2022, according to new data from IMDA. Read more at straitstimes.com.
Read more »
Will China’s property headaches have broader economic effects?China’s property crisis is expected to continue to slow its growth. The World Bank said on Sunday (Oct 1) it had cut its 2024 gross domestic product (GDP) growth estimates
Read more »
X CEO Yaccarino tells bank lenders that revenue grew by single-digit percentage -sourceSocial media platform X recorded high single-digit percentage revenue growth in the third quarter compared to the second quarter, X Chief Executive Linda Yaccarino told the company\u0027s bank lenders in a meeting on Thursday, according to a person who was on the call.The size of X\u0027s revenue, which includes mo
Read more »
Dell\u0027s revenue forecast signals AI boost will take longer to materialiseDell Technologies on Thursday (Oct 5) reiterated that it expects revenue to grow at a compounded annual rate of 3 per cent to 4 per cent over the long term, disappointing some investors who expected AI to drive a bigger sales jump and sending its shares down 4 per cent. The company, which makes PCs and ser
Read more »
Cost-of-Living support package to boost retail sales\u003Cp\u003E\u003Cstrong\u003EFor 2023, UOB expects retail sales to grow by 3.5% \u003C/strong\u003E\u003C/p\u003E\n\u003Cp\u003EExperts remain positive on the outlook of the retail market, citing many upside risks, including Singapore’s $1.1b Cost-of-Living Support Package.\u003C/p\u003E\n\u003Cp\u003E“The additional cash disbursement of up to $200 in Dec 2023 for eligible Singaporeans under the Assurance Package (AP) and an extra $200 of CDC vouchers for each Singaporean household could provide incremental support to retail sales, on top of the handouts already announced in Budget 2023,” Jester Koh, UOB associate economist, said. \u003C/p\u003E\n\u003Cp\u003EThe additional relief from the government brought the AP to over $10b.\u003C/p\u003E\n\u003Cp\u003EApart from the relief package, Koh believes “consumers may front-load some of their spendings, particularly on big-ticket items like furniture, household equipment, watches and jewellery ahead of the second tranche of GST increase from the current 8% to 9% on 1 Jan 2024,” which, in turn, will boost retail sales.\u003C/p\u003E\n\u003Cp\u003E“We continue to expect retailers to enjoy some level of domestic and external support,” Koh said. \u003C/p\u003E\n\u003Cp\u003EOther factors that can boost retail sales include major events such as various sports, popular concerts and BTMICE (Business Travel and Meetings, Incentive Travel, Conventions and Exhibitions) activities and rising employment and resilient wage growth.\u003C/p\u003E\n\u003Cp\u003EKoh, however, warned of downside risks to retail sales which include a weakening external environment, greater-than-anticipated easing in domestic/regional labour market conditions, and a slower-than-expected recovery of inbound Chinese tourists.\u003Cbr /\u003E\n \u003C/p\u003E
Read more »