The Cost of NonEurope on Digital Transformation| Economic Growth
Digital transformation has the potential to radically change the economy and society and bring promising improvements, as well as challenges, in all aspects of our lives. However, the persistence of unresolved gaps and barriers in action and cooperation at EU level impedes Europe from grasping the full potential of digital transformation.
The recently published Ecorys (2022) study for the European Parliament assessed the cumulative cost of non-Europe in tackling these gaps to rise up to €1.3 trillion of GDP and 8 million jobs until 2033. It further identified and assessed three policy options that could significantly tackle those gaps and barriers. The quantification is based on a computable general equilibrium model, developing an ideal state scenario and three scenarios associated with the alternative policy options, and comparing those with the baseline scenario.