miércoles, 16 de noviembre de 2016

Reaping the digital benefits of #Brexit and #Trump

June 23th. The UK votes for the exit of the European Union. The ICT sector in Britain made bets for the "remain" option and just the day after the referendum published a statement showing its disapointment. "This is not the outcome that the majority of techUK members were hoping for. It opens up many uncertainties about the future". Losing the access to the digital single market could mean losing 2% of GDP growth.

November 8th. The US elected Donald Trump as the next President of the country. Silicon Valley called the elected President a potential disaster for innovation and there are rumors that the new president is barely able to use a computer. After the elections the same voices in Silicon valley called for "Calexit" fearing a negative impact on ICT sector of the forthcoming government policies.

The above news are probably not what continental Europe expected but could have positive effects in the European ICT sector. It is well known Europe was lagging behind other areas in ICT market.  Although Europe accounts for 21% of total global demand, European digital players now only represent 17% of global supply – a deterioration of five points between 2009 and 2013, according with this Orange´s paper. The weakening of two strong rivals as US and UK could be a benefit for the EU ICT sector. 

The DSM strategy looks as the correct path for the initial months after Brexit and Trump election. It will strengthen the ICT sector through the creation of a shared area for ICT services and products. On one hand, it would provide opportunities for expansion of EU ICT companies. On the other hand, and probably more important, it could attract UK and US ICT companies looking for a more open market. The impact of the arrival of the US and UK companies to Europe could means also a boost for innovation and creativity with a positive network effect.

Brexit and Trump are perhaps bad news for the world, but EU should grasp the opportunity to reinforce its influence and strengthening its ICT sector

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