Business - 'It's a chicken or egg question' expert says digital economy can empower nations

Digital Economy: A Chicken and Egg Problem for Developing Nations

The digital economy is a double-edged sword. On one hand, it offers unparalleled opportunities for growth and development. On the other hand, its uneven global impact has left millions of people without access to basic services like electricity.

According to a recent report by the International Data Centre Authority (IDCA), the digital economy now accounts for 17% of global GDP, with an estimated worth of over $20 trillion. This growth has been driven in part by the widespread adoption of technology in developed countries.

However, the benefits of this growth have not been evenly distributed. More than one billion people worldwide lack access to basic electricity, and the digital economy has not done enough to bridge this gap.

IDCA's CEO Mehdi Paryavi says that poorer nations can develop their own digital economies that will empower them, improve energy access, and enhance education. This is a chicken-and-egg problem, where it's unclear which comes first: the need for digital infrastructure or the creation of a digital economy.

Paryavi argues that governments and international organizations must work together to provide the necessary funding and support for developing nations to build their own digital economies. He also stresses the importance of creating jobs and skills training programs that will help people adapt to the changing job market.

This is not just about economic growth; it's also about bridging the gap between the haves and have-nots. As Paryavi puts it, "the digital economy has the power to level the playing field and provide opportunities for everyone, regardless of their background or location."

The report highlights several examples of developing nations that are successfully harnessing the power of technology to drive growth and development. These include countries like South Korea, which invested heavily in education and IT infrastructure, resulting in a highly skilled workforce.

In contrast, some countries are struggling to keep pace with the digital revolution. For instance, many people in rural Africa lack access to basic services like electricity, clean water, and healthcare. In these areas, the benefits of technology are largely theoretical.

As Paryavi notes, "the digital economy is not a magic bullet that will solve all our problems overnight." It requires sustained effort, investment, and collaboration from governments, international organizations, and civil society to create an inclusive and equitable digital economy that serves everyone.

The report concludes by highlighting the urgent need for policymakers to rethink their approach to economic development. Instead of relying on traditional methods, they must invest in digital infrastructure, skills training, and social protection programs that will help people adapt to a rapidly changing world.

In conclusion, the digital economy is not just a tool for growth; it's also a key to unlocking opportunities for developing nations. As Mehdi Paryavi says, "the future of work and development is digital." It's time for policymakers to take notice and start creating an inclusive and equitable digital economy that will leave no one behind.

I'm so tired of these reports saying the digital economy is a solution to everything . Like, it's not that simple. If people don't have access to electricity or clean water, how are they gonna use the internet? It's like assuming everyone has a 4K TV just because you invented Netflix . You need to address the basic human needs first. And btw, South Korea's success story is not even that impressive when you consider their already strong economy and education system

I think the whole thing with this digital economy growth being all about developed countries making a tonne off it while people in developing nations are still living without basic services like electricity is kinda messed up . Like, what's the point of having an extra $20 trillion if millions of people can't even access decent power? It's time for governments and orgs to step up and invest in building digital infra for these countries instead of just leaving them behind

I think the idea that govts & orgs need to fund & support developing nations to build their own digital economies is a load of rubbish . I mean, why should richer countries be paying for poorer ones' tech development? It's like they're saying "you can't make it on your own so we'll bail you out" . And what about the risk of dependency on foreign aid? It's just gonna create more problems in the long run.

This chicken-and-egg problem thingy is really puzzlin' me. I mean, on one hand, we got this massive $20 trillion digital economy just growin' and growin', but on the other hand, there's still billions of people out there without access to basic stuff like electricity . It's like, which comes first? Do we build these fancy digital economies first, or do we make sure everyone has a solid foundation of basic services?

I'm all about them layouts and structures, you know? And this whole thing just feels like a big ol' mess. I mean, I can see why Mehdi Paryavi is sayin' that governments and orgs gotta work together to make it happen, but at the end of the day, it's still gonna take some serious effort and investment .

I'm not sure what the answer is, but I do know one thing - we need to find a way to make this digital economy more inclusive. It's like, just 'cause we got all this tech doesn't mean everyone's gonna have access to it . We gotta find ways to bridge that gap and make sure everyone's got a chance to get in on the action .

Anyway, I guess what I'm sayin' is, let's get to work on makin' this thing happen!

the thing is, i think idca is onto something with this whole chicken-and-egg problem but we gotta be realistic here. it's not just about governments and orgs stepping up their game, its also about private sector investment and corporate social responsibility. big corps have to take ownership of bridging that gap between the haves and have-nots. otherwise, its all just lip service

I've been thinking about this whole digital economy thing a lot lately ... it's like we're stuck in this never-ending loop where the benefits are going to some, but not everyone is getting left behind . It's crazy how some countries can just jump ahead and become all high-tech, while others are still struggling to get their basic needs met ... what does that say about our priorities as a society? We need to start thinking about this in a more holistic way, beyond just the numbers and GDPs . And I think it's time for us to redefine what success looks like, especially when it comes to economic growth .

I think the whole thing is kinda crazy - all this power in a few hands, while others are still stuck in the dark ages... Like, South Korea was smart enough to invest in their future and now they're reaping the benefits . But for the rest of us? We're just supposed to magically adapt to a world we've never known? It's all about creating jobs and skills training programs that will actually help people, not just throwing some money at it .

the more i think about it, the more it feels like we're trying to get to a destination before we even know where it is ... developing nations need infrastructure but they also need funding from governments & orgs , and on the other hand, who's gonna fund them when they actually have a digital economy ? it's like we're stuck in this perpetual loop of chicken vs egg... meanwhile, people in rural africa are still struggling to get basic services like electricity , it's time for us to take responsibility and not just say "oh, the digital economy will solve all our problems"

the thing is, how can we even talk about a "digital economy" when like half the world still doesn't have access to electricity? it's all well and good for countries like south korea to have invested in education and IT infrastructure, but what about everyone else? it's just not fair that some people get to reap all the benefits while others are stuck in the dark ages. we need to rethink our approach to economic development ASAP, instead of just throwing money at the problem (although, i guess that's a good start?).

Developing countries need funding & skills training ASAP, can't just rely on govts & orgs to help

I'm so worried about these ppl in rural africa dont have access to basic services like electricity . Its not just about throwing money at the problem tho, we need to think about how to educate ppl on how to use tech 2 benefit themselves & their communities . We can't expect them 2 catch up w/ the digital revolution if they dont have access 2 basic infrastructure like electricity & clean water

The problem with digital economy is like a puzzle where you need a piece to fit into another piece . On one hand, we have the rich countries with their high-speed internet and on the other hand, we have the poor countries without access to basic electricity . It's hard to figure out which comes first: do we build roads for digital economy or do we have a strong digital economy to make those roads useful?

In 2025, we should be talking about how to level the playing field and give everyone access to technology . Not just rich people who can afford fancy gadgets , but also people in rural areas who need basic services like clean water and healthcare .

We need to create jobs that require skills and education so that people can adapt to the changing job market . It's not just about economic growth , it's about creating opportunities for everyone, regardless of their background or location .

Governments, international organizations, and civil society need to work together to provide funding and support for developing nations . We can't leave anyone behind in this digital revolution .

Here's a simple diagram to show the problem:
```
+-----------------------+
| Digital Economy |
| (Good for rich) |
+-----------------------+
|
|
v
+-----------------------+
| Poor Countries |
| (No access to basic |
| electricity, etc.)|
+-----------------------+
```
We need to bridge this gap and create a digital economy that serves everyone .

I'm worried about these developing countries . They're trying to jump into the digital world, but it feels like they're missing some crucial pieces. I mean, if you don't have electricity or clean water, how are you gonna harness the power of technology? It's like they say, a chicken and egg problem for sure...

I think what we need is for governments and international organizations to work together to provide the necessary funding and support. We can't just leave these countries behind, it's not fair. They're trying to create their own digital economies, but they need our help.

It's also about creating jobs and skills training programs that will help people adapt to the changing job market. That's where we come in, folks! We need to support these developing nations in building their own digital infrastructures and creating opportunities for everyone.

I'm not saying it's gonna be easy, but I think it's worth it. The digital economy has the power to level the playing field and provide opportunities for everyone, regardless of where they're from or what their background is. Let's make it happen!

Digital economy growth is crazy but what about the people without electricity or internet access? 1 billion people are in the dark literally . Governments & international orgs need to step up their game & invest in infrastructure, skills training & social protection programs. Can't just rely on tech as a magic solution . We need a more balanced approach that addresses the elephant in the room - inequality

The thing is ... I think governments and companies need to step up their game when it comes to making tech more accessible to people in developing countries. Like, if you want to talk about bridging the gap between the haves and have-nots, how are people supposed to take advantage of all the digital economy opportunities if they can't even get access to basic things like electricity? It's not fair that some countries are getting left behind just because they don't have the resources or infrastructure to keep up. We need more funding and support for developing nations to build their own digital economies, period

I'm all for investing in the digital economy, but we gotta be real about the gap between the haves & have-nots . 17% of global GDP is a big number, but what's the point if millions are still living without basic electricity? We can't just rely on magic bullets or tech fixes . More funding and support for developing nations from governments & orgs is needed. It's not about creating a digital economy as a separate entity, it's about using it to level the playing field and bridge that gap

Digital divide is real . Can't have rich online world without poor offline ones . Need global govts & orgs to chip in, not just big corps .

I feel bad seeing people in rural Africa without electricity, clean water, or healthcare . We need more funding & support from governments & orgs to help them build their own digital economies . It's not just about economic growth but also about bridging the gap between the haves & have-nots .

I agree with Mehdi Paryavi that we need a collaborative effort to create an inclusive & equitable digital economy . Let's focus on skills training programs, social protection, & investing in digital infrastructure . We can't just rely on technology as a magic solution .

South Korea is a great example of how investing in education & IT infrastructure can lead to economic growth and development . But we need more countries like that to take the lead .

Policymakers, let's rethink our approach to economic development & invest in digital infrastructure . The future of work & development is indeed digital .

omg u know w8 til the end of this... so like i was readin about dis report from IDCA & it made me think, r we really gettin ahead of ourselves when it comes to adoptin tech 2 fast? i mean, yeah digital econ is a big deal & all but let's be real, not everyone has access 2 the same level of tech. like south korea is doin it rite, investin in ed & IT infrastructure & now they got a sick workforce. but what about ppl in rural africa? they dont even have electricity lol. its like, we cant just expect tech 2 solve all our probs overnight. Mehdi Paryavi says it's a chicken & egg prob, u need digital econ 2 get digital infrastucture but u also need digital infrastructure 2 create a digital econ... yeah i get it