PH digital economy could grow up to P5 trillion by 2030 – study
Digital transformation can unlock up to P5 trillion (USD101.3 billion) worth of economic value in the Philippines in 2030 – equivalent to about 27 percent of the country’s GDP in 2020 – research commissioned by Google and conducted by Singapore-based strategic economics consultancy firm AlphaBeta revealed.
In terms of key technologies with the largest transformative potential for the Philippines, AlphaBeta listed mobile internet, cloud computing, big data, artificial intelligence, financial technology, Internet of Things and remote sensing, advanced robotics, and additive manufacturing.
According to the study, close to 70 percent of the mentioned value could come from technologies that help mitigate the economic repercussions of the COVID-19 pandemic. Around a quarter of the forecast amount, or P1.22 trillion, will be driven by the consumer, retail and hospitality sectors, followed by the education and training sector (P607.1 billion), agriculture and food (P576.7 billion), and the government (P550.2 billion).
“There is a vast scope for the government to improve service delivery and cost efficiency using digital technologies,” the study noted.
“Such technologies include digitizing government services, cloud computing, e-procurement, and Geographic Information System (GIS) enabled tax collection.”
E-procurement could save governments up to five percent on spending and 50 to 80 percent on transaction costs, AlphaBeta said, elaborating that the Philippines has taken steps to such technologies that ensure faster, efficient, and more responsive mechanisms for the acquisition of goods and to deliver public services electronically.
“For example, services like passport appointments, ID applications for persons with disabilities (PWD), and public health services have been digitized,” AlphaBeta said.
More and more key departments of the government are embracing digitization. The Department of Social Welfare and Development (DSWD), for instance, is currently using a virtual tracking system to monitor child labor. In 2020, the Supreme Court launched eCourt, an electronic end-to-end case management system that organizes cases digitally. The Department of Justice Bureau of Corrections (DOJ-BuCor) and Department of Agrarian Reform (DAR) have likewise leveraged case management systems to improve their processes to enhance their services to constituents.
These projects are mounted in collaboration with and developed by Attaché Docs, a digital tools provider under fully Filipino software firm Monstarlab Philippines. Attaché Docs helps government offices and companies in various industries such as legal, banking and finance, construction, and human resource adapt to digitization. It offers simple, easy to use, secure, and future-proof virtual solutions that enhance workflows and helps companies and organizations gain improved performance insights through real-time updates and data analysis and keep their important documents organized through an advanced record and tagging system.
One of its hero offerings is the creation of customizable forms with automation and productivity features, allowing local offices and companies to veer away from manual paperwork and take advantage of digital formats instead.
Attaché Docs is among the technology-driven firms in the country that serve as purveyors of digital transformation, aiding more companies to realize the rewards of virtualization as the Philippines move towards fully unlocking digital opportunities.
Start the transformation within your organization today! Discover how Attaché Docs can kickstart digitization for you by scheduling a demo here.