Digital Economy Development as an Important Factor for the Country’s Economic Growth

Abstract

The development of the digital economy can stimulate the country’s economic growth, be an attractive factor for research and investors, and the development of human capital. In the digital’s context economy, requirements for components of human capital and mechanisms for its reproduction are changing. The measurement of the indicator is rather an assessment of the skills needed to take advantage of the opportunities offered by digital technologies. The speed of breakthroughs in digitalization has no historical precedent. The development and formation of the current digital economy undermine traditional ideas about businesses’ structure, how they operate, and how consumers receive services, information, and goods. The digital economy is a multi-faceted, revolutionary and important phenomenon in the modern world, in which globalization is expressed in double-digit rates of annual growth in the world economy. The relevance is that the development of the digital economy in countries is considered a key factor of economic growth in a competitive environment. Results: 1. Analysis of the development in the digital economy revealed problems: the low purchasing power of the population, undeveloped logistics channels. 2. Digitalization in the economy is a necessary investment and developing technologies, where it’s needed to use them fully. In the age of information, and exponential growth of data volume brings challenges and opportunities to traditional measurement methods based on management approaches.KeywordsDigital economyCountry’s competitivenessState powerEconomic growthDigitalizationJEL ClassificationO10O20O30P33P47