Digitalisation of local SMEs could add up to US$24b to GDP by 2024: survey

Singapore

HIGHER revenue and productivity gains from digital transformation by small and medium-sized enterprises (SMEs) could add as much as US$24 billion to Singapore's gross domestic product (GDP) by 2024, helping the country rebound from the Covid-19 pandemic.

This is according to a survey of 1,400 small and medium businesses (SMBs) across the Asia-Pacific region, commissioned by Cisco and conducted by International Data Corporation (IDC).

The survey found that digitally mature SMEs enjoy twice as many benefits in terms of revenue and productivity, compared to SM…

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