Singapore's digital economy nearly doubled in five years: study

Digitalization across sectors totals $77bn in 2022, accounting for 17% of GDP

The new finding comes as the city-state expands its efforts in attracting global tech companies and talent from abroad, while also upskilling its own aging population. (NIKKEI montage/Source photos by Reuters and AP)

TSUBASA SURUGA, Nikkei staff writer

October 6, 2023 20:34 JST

SINGAPORE -- Singapore's digital economy nearly doubled in five years and reached 100 billion Singapore dollars ($73 billion), according to new government data released Friday, as the city-state seeks to strengthen its position as a key global tech hub.

The first official measure of the size of its digital economy was compiled by the Infocomm Media Development Authority of Singapore, the country's regulator and industry developer, together with the Lee Kuan Yew School of Public Policy at the National University of Singapore (NUS).