The Australian Government is poised to see its digital economy expand from US$146 billion to US$195 billion by 2028, securing the 12th position globally. This growth, driven by e-commerce and online retail, is part of a broader global digital economy expected to reach US$16.5 trillion, accounting for 17% of world GDP.
However, Australia’s R&D spending is notably below the OECD average, which may impact future digital advancement. Enhanced government investment in research and development is crucial for sustaining this growth and increasing Australia’s digital economy standing.
