Data Flows Economic Impact Study

Key findings:

• Boost employment: By increasing trusted data flows, the economy could create 23,000–412,000 new jobs each year, in sectors such as tourism, business process outsourcing (BPO), digital work
• Growth in business: Trusted data flows could lead to revenue gains of $1.1–$5.5 billion additional revenue annually for the private sector, with the biggest gains in data-intensive and service-based industries.
• Lower prices: Smoother and more efficient data use could reduce prices by3%–1.77%, making goods and services more affordable for both consumers and firms.
• A bigger economy: Trusted data flows could support the economy to expand by 1%–5% each year, equal to $1.3–$6.2 billion in additional gross domestic product (GDP).
• More trade: Internationally recognised data regulation could enable trade, primarily in digital and digitally enabled services, to rise by 2%–4%, adding $208–$395 million
• Higher productivity: Better data use could raise productivity by 58%–1.3%, allowing each worker to earn $85–$190 more per year.
• Stronger public finances: Stronger economic activity could generate $178 million–$1.1 billion in additional tax revenue, without increasing tax rates.
• More foreign investment: Clearer rules and greater digital trust could attract $9–$58 million more FDI each year, supporting the digital economy.