Did someone drop a zero? Australia’s digital economy budget spend should be 10 times bigger
Key insights from Digital Planet's "Digital Intelligence Index" is cited in reference to Australia's digital economy budget, via an article in The Conversation.
The federal budget for 2021-22 promises A$1.2 billion over the next six years to support the Digital Economy Strategy, a plan to make Australia “a leading digital economy and society by 2030”.
The Digital Economy Strategy proclaims: "We are well placed to be a leading digital economy and have strong foundations, but many countries are investing heavily in their digital futures."
This may sound like a lot, but a closer look at the strategy and funding announcements, compared with what other countries are doing, shows we may not be so well placed after all.
Countries such as France and Singapore have implemented similar initiatives, with one key difference: they are spending about ten times as much money as Australia.