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Einvestment Fund: COVID-19 Becomes the Main Driver of Digital Economy

November 29, 2020 GMT
Einvestment Fund
Einvestment Fund

11/29/2020, Chicago // KISSPR //

COVID-19 has become a significant driver of the digital economy. Based on the first six months since the pandemic unfolded, it’s become clear that the coronavirus accelerated the worldwide adoption of a digital lifestyle. The changes are likely to remain relevant in the post-pandemic world, where a digital presence will become the key to survival. Therefore, Einvestment analysts are sure that the digital economy will inevitably continue to develop at an accelerated pace in the coming years.

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The pandemic highlighted the significance of digital transformation, which has sped up the adoption of digital tools and digital-first approaches. Companies increased the digital penetration in interactions with customers and supply chain by three to four years, while the share of digitally-enabled or digital products in the portfolio is seven years ahead of schedule. 

The rapid adoption of digital practises throughout all company levels inevitably drives the development of the digital economy. Analysts worldwide make the following predictions on its further development:

  • Over 65% of APAC’s GDP will be digitalised within the next three years. It’s expected that the spending will reach $1.2 trillion during the same period. 
  • The digital technology could cumulatively add a GDP contribution equal to €2.2 trillion in the EU, which is equal to a combined GDP of Spain and Netherlands in 2019.

To further promote the digital economy, businesses and governments will have to overcome area-specific barriers. For example, the EU and its Member States will have to spend €75 billion on ICT investments and an additional €42 billion on labour force education and upskilling annually in order to reach the set goal by 2030.

“Einvestment Fund predicted the blooming of the digital economy even before COVID-19 hit the world. That’s why the share of digital companies and digital assets in the Fund’s investment portfolio exceeds 75%. Taking in the account the pandemic’s effect, it may increase up to 85% in the next one year.” -  says Einvestment’s Executive Director, Martha Vodvik

Currently, the majority of industries and countries are starting to digitalise. In the UK alone, four in five executives claim to have increased the budget for digital transformation due to COVID-19. Some industries, however, digitalise faster than others. For example, e-commerce made a considerable leap and increased its penetration by 10% in the first two months of the pandemic. Before the coronavirus, the industry would have taken ten years to reach such a penetration level. 

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Einvestment Fund provides simple, paperless and instant access to top-performing investment products driven by innovations. The mutual fund offers a range of segregated investment portfolios with attractive risk/return potential, low investment minimums and track record of performance since 2018.

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Release ID: 15268