May 06, 2023 10:30 AM

Weekend Long Read: Monetizing the Global Digital Services Market

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With the combination of the Inflation Reduction Act and the CHIPS Act of 2022, the U.S. launched a mixture of tax incentives, subsidies and industrial policy to aggressively domesticate its own battery, semiconductor, and EV supply chains. Photo:VCG

Forecasting how the global economy and markets will perform in 2023 is becoming increasingly difficult as a wide range of factors come into play. Devising the right economic and technology strategy is imperative for nations, businesses, and investors.

Amid the economic and geopolitical tumult there is one particular bright spot, the digital economy. The World Trade Organization (WTO) estimated that in 2021, exports of digitally delivered services reached $3.7 trillion. That was equivalent to nearly 4% of global nominal GDP.

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