The recent research by the Boston Consulting Group (BCG) showed
that the difference between countries with low e-Friction and those with high
e-Friction can amount to 2.5 per cent of the Gross Domestic Group (GDP), ITRealms reports.
Part of the executive summary of the report tagged ‘Greasing
the Wheels of the Internet Economy’ made available to ITRealms indicated that easy access and
use of the Internet could dramatically affect the growth of national economies,
according to new research by BCG.
The research, ITRealms
gathered measured the constraints on Internet use in 65 countries and found
that those with fewer limitations on online activity could have larger digital
economies, just as the difference could amount to 2.5 per cent of GDP.
The report,
introduces the BCG e-Friction Index, which ranks countries according to four
types of e-friction: infrastructure-related frictions that limit basic access;
industry and individual frictions that affect the ability of companies and
consumers to engage in online transactions; and information frictions that
involve availability of, and access to, online content.
Paul Zwillenberg, a BCG partner and a co-author of the
report was quoted as saying that because the digital economy is growing
quickly, often outpacing the offline economy, high e-friction countries are in
danger of missing out on a high-impact propellant of growth and job creation.”
“On the other hand, high-friction countries that address
their sources of e-friction have the potential to add significant value to
their economies,” he said.
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