Stripe：数字贸易是如何重塑全球经济的 How digital trade is reshaping the global economy

Howdigitaltradeisreshapingtheglobaleconomy

Introduction

Internationaltradewindshaveshiftedinrecentyears,andanewconcepthasemergedthatthe

WorldTradeOrganization

calls“reglobalization.”Thenamereferstoaformofglobaltradethatismorediversified,asbusinessesandcountriesseekabroadernetworkoftradingpartnersthatismorerobusttopoliticalandeconomicshocks.

“

Digitaltradeisakeydriverofglobalgrowthtodayandthe

internetistheprimaryinfrastructureunderpinningthistrend.

Itprovidesbusinesseswithaccesstocustomersinfarflung

marketsthatstandoutsidetraditionalbilateraltraderelationships.Anybusiness,anywhere,cannowconceivablyselltocustomers

innearlyeverycorneroftheglobe.Increasingly,businessesaretakingadvantageofthispotential.

Tovalidatethishypothesisandbetterunderstandthenatureofthisshift,wetookacloselookatourdigitalexportsdataandsurveyed9keyglobalmarkets:Australia,France,Germany,Ireland,Japan,

Mexico,Singapore,theUnitedKingdom,andtheUnitedStates.

Weinterviewedthousandsofbusinesses,consumers,and

analyzeddatafromtheStripenetwork.Wewantedtounderstandwhichkindsofbusinessesaremostlikelytobeexpandingintonewglobalmarkets,whichmarketsthey’rechoosing,andwhatkindsofopportunitiesandchallengesthey’reencounteringalongtheway.

Thisreportpresentsourkeyfindings,indicatingthat

reglobalizationisbeingpoweredbytheriseofdigitalexports:

thecross-bordersaleofdigitalservicesandphysicalgoodsviadigitalchannels.Itfindsunexpectedoptimismfrombusinessesandconsumersabouttheprospectsoftheglobalizedeconomy.Despitetheincreasedcomplexitythatbusinessesneedto

navigate,50%ofbusinessesthinkitiseasiertodaytorunan

internationalbusinessthanitwasfiveyearsago,and66%plan

toexpandintoothercountriesinthenexttwoyears.Eighty-ninepercentattributethewideravailabilityoftechnologyandtoolsas

keytoaneasytransitiontointernationalexpansion.Enterprisesarepursuingreglobalization,butsoarestartupsandsoleproprietor

companies.Andwhileit’slessofasurprisethatthesoftware

industryisreglobalizing,maybeit’smoreofonethattheeducationindustryistoo.

Howdigitaltradeisreshapingtheglobaleconomy

Abetterpathforwardiswhat

wearecalling‘re-globalization’:

deeper,moredeconcentrated

markets,achievedbybringing

morepeopleandplacesfrom

themarginsoftheglobal

economytothemainstream.

Director-General

NgoziOkonjo-Iweala

WorldTradeOrganization

2

Aboutthisreport

Thisreportprovidesanoverviewoftheopportunitythattheinternetisenablingforallbusinessesacrosstheworldtomaximizesalesthroughcross-borderdigitalexports.

BasedontransactiondataonStripe,aswellasbusinessandconsumersentimentsurveys,thereportidentifiesandelaboratesonemergingtrendsintheglobaldigitaleconomy,includinghowreglobalizationisbeingpoweredbydigitalexports.Itisbasedonthreemainsourcesofdata:

•BusinesssentimentdatafromaB2BInternationalstudyconductedinJune2023ofover

1,700businessleadersbasedinAustralia,France,Germany,Ireland,Japan,Mexico,Singapore,theUK,andtheUS.

•ConsumersentimentdatafromaYouGovstudyconductedinJune2023of11,500consumersacrossAustralia,France,Germany,Ireland,Japan,Mexico,Singapore,theUK,andtheUS.

•TransactiondataaggregatedfromtheStripeplatformofpaymentflowsfromStripeusersinAustralia,France,Germany,Ireland,Japan,Mexico,Singapore,theUK,andtheUSthatsellproductsorservicestocustomersinternationally.ThedatawascollectedinApril2023,andcoverstheperiodfromJanuary1,2021toDecember31,2022.

Inthisreport,theterm“digitalexports”referstothecross-bordersaleofdigitalproductsandservices,aswellasphysicalgoods,viadigitalchannels.Thisisdefinedasgoodsandservices

whichare“digitallyordered”and“digitallypaidfor,”butcouldbedeliveredorservicedeither

physicallyordigitally.

Inthecontextofthisreport,thebusinesssentimentdataandthetransactiondataaggregatedfrom

theStripeplatformshouldbetreatedasindicativeandnotdirectlycomparabletonationaltradedataasitisbasedondifferentcriteria.ThebusinesssentimentsurveyandthetransactiondataaggregatedfromtheStripeplatformareextrapolatedmostlyfromStripeusers,anddonotfullyrepresentthe

broaderglobaleconomy.

3

Howdigitaltradeisreshapingtheglobaleconomy

KeyTakeaways

Thisreportexploreshowdigitalexportsaretransformingtheglobaleconomyinthreecoreareas:

1.Creatingunexpectedoptimismfrombusinessesandconsumersabouttheprospectsoftheglobalizedeconomy:

Despiteachallengingshort-termclimate,bothbusinessesandconsumersareoptimisticaboutincreasinghowmuchtheybuyandsellacrossborders:

•Sixty-sixpercentofbusinessesareplanningtoexpandintoothercountrieswithinthenexttwoyears.

•Sixty-eightpercentofconsumersareopentothecross-borderpurchaseofphysicalgoods,and59%areopentobuyingdigitalservices.Thesenumbersareevenhigherforyounger

people,with76%of18–34yearoldsopentobuyingphysicalgoods,and74%opentobuyingdigitalservices

•Eighty-onepercentofbusinessesexpecttobeabletoincreasetheirinternationalsalesoverthenextfiveyears:25%areforecastingsalesgrowthofmorethan50%,while17%expectmorethan75%growth.

•Fiftypercentofbusinessesthinkitiseasiertodaytorunaninternationalbusinessthanitwasfiveyearsago.Only22%findithardertodoso.

2.Creatingmorediversifiedinternationaltraderoutes:

Economicinfrastructurefortheinternetmeansthatbusinessescanparticipateinglobaltrade,

regardlessofwherethey’relocated.However,mostbusinesseshavebarelybeguntotapthis

potential.Digitalexportsarereducingfrictiontobuyingandsellingcross-border,andbroadeningeconomicopportunity:

•Whilemanyofthefastest-growingdigitalexportroutesarebetweenneighbors,therearestrikingexceptions.Irelandisthefastest-growingdigitalexportdestinationforboth

AustraliaandtheUK.Germanyisthefastest-growingdigitalexportdestinationforboththeUSandFrance.

•Thetopfivedigitalexportmarketsforeverycountryinthisreportcoveratleasttwocontinents.Forfivemarkets(Australia,Mexico,Singapore,theUS,andtheUK),thetopfivedigitalexport

marketscoverthreecontinents.

•Whilebusinessesarelikelytochoosetheirfirstinternationalmarketduetogeographicandculturalconsiderations,futuremarketsaremorelikelytobechosenbygrowthpotential.

High-growthmarketslikeSoutheastAsia,SouthAmerica,andIndiaaregrowinginfocusforbusinessesaroundtheworldfordigitalexports.

4

Howdigitaltradeisreshapingtheglobaleconomy

3.Creatinggreateraccesstotheglobaleconomyforeverykindofbusiness

andindustry:

Digitalexportsarelevelingtheplayingfieldandallowingbusinessesofallsizes—fromsingle-personmultinationalstolargeandpredominantlyofflinetraditionalenterprises—toaccessglobalmarkets:

•Eighty-onepercentofsoleproprietorbusinessesinoursurveynowselltomorethanonemarket,heraldingtheriseofsingle-personmultinationals.Eighteenpercentoftheseselltomorethan11globalmarkets.

•Thedigitaltransformationoftraditionalenterprisescontinues,with31%growthinenterprisessellinginternationallyviadigitalchannels.Fiftypercentplantofurtherexpandinternationallyinthenexttwoyears.

•Traditional,offlineindustries—suchaseducation—aretransformingduetodigitalexports.

Eighty-eightpercentofeducationbusinessessellinternationallytoday,and70%plantoexpandfurtherinternationallyinthenexttwoyears.

5

Howdigitaltradeisreshapingtheglobaleconomy

Ahistoryofinfrastructuretoenabledigitalexports

1969:ARPANET,thefirstpublicpacket-switchedcomputernetwork,launches,layingthegroundworkforthefuturedevelopmentoftheinternet.

1973:WorkbeginsonTCP/IP,asetofcommunicationprotocolsthatallowsmultiplecomputernetworkstoconnectandformalargernetwork,anotherkeymilestoneinthedevelopmentoftheinternet.

1994:Thefirsttrueecommercetransactiontakesplace.DanKohn,a21-year-oldentrepreneur,soldaCDofSting’sTenSummoner’sTalesalbumtoafriendwhousedhiscreditcardinatransactionthat,forthefirsttimeever,wasprotectedbyencryptiontechnology.

1995:EcommerceandonlinemarketplacessuchasAmazonandeBayemerge,revolutionizinghowcustomersbuygoodsandservices.

2009:AlibabaturnsSingles’Dayintoamassiveonlineretailevent.Morethan290,000brandsfrom90+countriesnowtakepart.

2014:MobilepaymentserviceslikeApplePayandGooglePayareintroduced,simplifyingthecheckoutprocessformobileshoppersandfurtherdrivingthegrowthofmobilecommerce.

2020:TheglobalCOVID-19pandemicleadstowidespreadlockdownsandrestrictions,promptingasurgeincross-borderecommerceasconsumersturnedtodigitalchannelstoserveabroaderrangeofneeds.

2022:There’sariseinDigitalEconomyAgreements(DEAs),comprehensive“digital-only”agreementsthatestablishtraderulesandfacilitateinteroperabilitybetweentwoormoredigitaleconomies.

Howdigitaltradeisreshapingtheglobaleconomy6

Trend1:

Creatingunexpectedoptimismfrombusinessesandconsumersabouttheprospectsofthe

globalizedeconomy

Above:Consumeropennesstobuyingfrominternationalsellers,basedonYouGovsurveydata,Jun2023

Despitegeopoliticaltensionsandregulatorycomplexity,thisreportfindsthatbusinessesandconsumersacrosstheworldareoptimisticthatglobalizationisbeingreshaped,notrescinded.

Asmoreconsumersareableandopentobuyingmoreonlinefrominternationalsellers,the

opportunityforbusinessestoincreasetheirtotaladdressablemarketsgrowsexponentially.Withtheriseofdigitalexports,businessesarestartingtorecognizetheopportunitytobuild,transform,andimproveinternationaloperations.

However,tobesuccessfulintheeraofreglobalization,businessesneedtoreprogramtheir

internationalstrategiestoreflectthediversityandfragmentationoftheglobaleconomytoday.

Thisreprogrammingrequiresathoughtfulandlocalizedapproach—fromproductdesigntouserexperiencetopaymentstofulfillment.

Howdigitaltradeisreshapingtheglobaleconomy7

Businesses’internationalambitionsaregrowinginthedigitaleconomy

Thenumberofcountriesbusinessessellto

16%

16%

1

2-5

7%

13%

6–10

11–20

21+

48%

Source:Stripe/B2BInternationalbusinesssentimentsurvey,June2023

Doyouplantoexpandyourbusinessinto

othercountriesoverthenext24months?

19%

Yes

No

15%

Don’tknow

66%

Source:Stripe/B2BInternationalbusinesssentiment

survey,June2023

Accordingtothebusinesssentimentstudy,84%ofbusinessessellproductsandservicesinmorethanonemarketwhile16%aresellinginmorethan21markets.Themajorityofbusinessesare

planningtocontinuethisinternationalexpansion,with66%planningtoexpandintoothercountriesinthenexttwoyears.Seventy-fivepercentsaythatinternationalexpansionisimportanttotheir

overallbusinessoutlook.

Theprimaryreasonsbusinessesarelookingtosellproductsandservices

internationallyin2023

ThereisinternationaldemandProductappealsglobally

64%

59%

45%

33%

26%

15%

14%

12%

4%

Internethasremovedbarriers

Betterlong-termgrowthprospects

Createsopportunitiesfornewideas

Itwidensthetalentpool

Usersareaskingformoremarkets

Usersaredemandingit

Other

Source:Stripe/B2BInternationalbusinesssentimentsurvey,June2023

Themajorityofbusinessleadersbelievethattheyarecreatingproductsandservicesthatcansolve

problemsbeyonddomesticmarkets.Themostcommonlycitedfactorsthatdriveinternationalgrowtharebusinesses’beliefininternationaldemandfortheirproductsandservices(64%),andthattheir

producthasglobalappeal(59%).Theinternetisalsoplayingakeyroleinenablingdigitalexportsas45%ofbusinessesbelievethattheinternethashelpedremovetradebarriers.

Howdigitaltradeisreshapingtheglobaleconomy8

5%

27%

40%

28%

Consumersareincreasinglyopentobuyingfrominternationalsellers

Theconsumersentimentstudydemonstratesthatthisglobalmindsetdoesnotjustsitwithbusinessleaders.Consumersareincreasinglyopentobuyingfrominternationalsellersbuttheywantthe

experiencetobelocalized—fromthesuitabilityoftheproductorservicetothewaytheypayforit.

Consumeropennessto

purchasingaphysicalproductfromabroadin2023

Open

Somewhatopen

Notopen

Don’tknow

Consumeropennessto

purchasingadigitalservice

fromabroadin2023

8%

35%

33%

24%

Source:Stripe/YouGovconsumersentimentsurvey,June2023

Globally,68%ofconsumersdescribethemselvesaseither“open”or“somewhatopen”tothecross-

borderpurchaseofphysicalgoods,whileonly27%describethemselvesas‘’notopen.’’Surprisingly,

fewerconsumers(59%)areopen,orsomewhatopen,tothecross-borderpurchaseofdigitalservices,althoughthisdiffersbyage.Only41%ofrespondentsaged55oroverareopen,orsomewhatopen,

comparedto74%of18–24yearolds.

Consumeropennesstopurchasingaphysicalproductfromabroadin2023

OpenorsomewhatopenNotopenDon’tknow

100%

75%

50%

25%

0%

Source:Stripe/YouGovconsumersentimentsurvey,June2023

Howdigitaltradeisreshapingtheglobaleconomy9

NoincreaseLessthan10%11–30%

31–50%

51–75%

Morethan75%Don’tknow

Consumerenthusiasmforbuyinggoodsandservicescross-bordervariesbycountry.InMexico(87%),Singapore(84%),andIreland(83%),consumersareespeciallyopentobuyingphysicalgoodsonline,whilethoseinothermarketsaremorehesitant,oftenbecausethereareelementsofthecross-borderpurchasejourneythattheydon’ttrust,ordon’thavefullconfidencein.

Accordingtoa

Statistastudy

ofconsumersintheUS,Germany,Australia,andtheUK,someofthe

keyconsumerreservationsaboutcross-borderpurchasesarethebeliefthattheywillarrivelaterthanpromised(66%)andthattheymightcarryadditionalfeesordutiesnotmadeclearatcheckout(59%).Sixtypercentagreethattheyarelesslikelytogiveaforeigncompanyanotherchanceifamistakeismadewiththeirorder.

“

Fitnessisatrulyglobalindustrywhichhasbecomeveryhomogenous.

PeopletakingaspinclassinEcuadoraregettingthesameexperience

asgymgoersinLondon,KualaLumpur,andNewYork.Thismeansglobalfranchiseswanttomaketheentirefitnessexperienceconsistent,includingpayments.It’snottoodifficulttohavethesamefitnesscontentindifferentcountries,butwhenyougetintohighlyregulatedareaslikepaymentsyoucanreallyseethedifferencesbetweenmarkets.”

AnthonyKelly,cofounder,Glofox

FoundedinDublin,Glofoxisabusinessmanagementsoftwareplatformforthefitnessindustry.Glofox

usesStripeConnecttobuildawhite-labeledpaymentssolutiontomakeiteasierforgymsandfitness

studiosacrosstheworldtostartacceptingpaymentsandprovidethebestpossiblecustomerexperience.

Businessestargetingsignificantsalesgrowththroughdigitalexports

Businessexpectationofinternationalsalesgrowth

overthenextfiveyears

5%

14%

12%

17%

27%

8%

17%

Source:Stripe/B2BInternationalbusinesssentimentsurvey,

June2023

Howdigitaltradeisreshapingtheglobaleconomy10

Businessespursuedigitalexportstoexpandtheiraddressablemarketandincreasesales.However,58%statethatinthelast12months,internationalsalesmadeuplessthanaquarteroftotalsales,

suggestingthereislargepotentialgrowthyettobecaptured.

Eighty-onepercentofbusinessesexpecttobeabletoincreasetheirinternationalsalesoverthenextfiveyears:25%areforecastingsalesgrowthofmorethan50%overthenextfiveyears,while17%

expectmorethan75%growth.

Businessesarenotexpectinginternationalsuccesstobeeasy

Despitethisbullishnessaboutinternationalgrowth,businessesareexpectingadifficultjourney.

Topreasonsbusinessesarehesitanttoexpandinternationallyin2023

27%

Uncertainglobaleconomicoutlook

23%20%

16%

13%

10%

Costshaveincreased

Hardertosellabroadthanexpected

Customerdemandpatternshavechanged

Regulationhasincreased

Taxeshaveincreased

Source:Stripe/B2BInternationalbusinesssentimentsurvey,June2023

Ofthebusinessesthathaveastateddesiretoexpandfurtherinternationallyoverthenexttwoyears,38%haveyettodeviseanyconcreteplanstodoso.Thetentativenatureoftheseplanscomes

downtoeconomicuncertainty(27%),risingcosts(23%),andunexpectedchallengesrelatedtosellingabroad(20%).

“

We’vereallybeenonaprettyfuninternationalexpansionjourneyoverthepastsixorsevenyears,thinkingaboutinnovationsaroundhowweget

moneytoasellerthat’ssellingcross-border,howdowemakethatcurrencyconversionprocesstriviallyeasyforthem,andhowdowemakesuretheygetpaidasexpectedandontime.There’salotofcomplexityinthat.”

BenVolk,directorofglobalpaymentacceptanceandcustomerexperience,

Amazon

AmazonpartneredwithStripetostreamlineglobalpaymentsexperiences,particularlyasthecompanylookedtolaunchinnewcountriesquickly.Forexample,whenAmazonexpandedintoPoland,theteamworkedwithStripetooptimizethecheckoutexperiencewithBLIK,apopularlocalpaymentmethodintheregion.

Howdigitaltradeisreshapingtheglobaleconomy11

Businessesthatdonothaveinternationalexpansionambitionsoverthenexttwoyearsareholdingbackforseveralreasons,includingalackofcapacity(31%),theperceptionthattheirproductor

serviceisonlysuitableforthedomesticmarket(24%),taxorcompliancebarriers(18%),andglobaleconomicuncertainty(12%).

Importanceofnativelanguageinwebsitesand

mobileapps

9%

Important

11%

Somewhatimportant

Notimportant

15%

65%

Don’tknow

Source:Stripe/YouGovconsumersentimentsurvey,June2023

Inaddition,thevastmajorityofconsumersineverymarketemphasizetheneedfortheuseofnativelanguageforonlinepurchases.Sixty-fivepercentthinkthisisimportant,comparedtoonly11%whothinkitisn’t.

Thisisindicativeofoneofthecorechallengesforanysuccessfulglobalizationstrategy.Asthe

internethasleveledtheplayingfieldforbusinessestoreachinternationalmarkets,therearemanycultural,legal,andlinguisticdifferencestoconsiderthatdon’tarisefordomesticcustomers.

Thisextendsfromculturaldifferencesaboutlevelsofformalityandphrasingtochallenges

relatingtouserinterfaceanduserexperience—

theaveragewordlengthinEnglishis8.23

characters,whiletheaveragewordlengthinGermanis11.66characters

.Theseconsiderations

impacthowinternationalizationstrategiesneedtobedesigned.Itisnotjustabouttranslation,butthoughtfullocalization.

Howdigitaltradeisreshapingtheglobaleconomy12

Paymentmethodspreferredbyconsumersforonlinepurchases

Australia

1Onlinepaymentservices 2Creditcard

3Mobilewallets

France

1Creditcard

2Onlinepaymentservices3Banktransfer

Germany

1Onlinepaymentservices2Buynow,paylater

3Creditcard

Ireland

1Onlinepaymentservices 2Creditcard

3Mobilewallets

Japan

1Creditcard

2Mobilewallets

3Onlinepaymentservices

Mexico

1Creditcard

2Onlinepaymentservices3Banktransfer

Singapore

1Creditcard

2Onlinepaymentservices3Mobilewallets

UnitedKingdom

1Creditcard

2Onlinepaymentservices3Banktransfer

1Creditcard

UnitedStates

2Onlinepaymentservices

3Mobilewallets

OnlinepaymentservicesreferstosolutionssuchasPayPal,Paystackandothers

Source:Stripe/YouGovconsumersentimentsurvey,June2023

Theseconsiderationsalsoextendtopayments.Notonlydobusinessesneedtoensurethatcustomersareabletopurchaseintheirpreferredlocalpaymentcategory—fromcreditcardtoonlinepaymentsservicestobuynow,paylatermethods—theyalsoneedtobeabletoacceptavarietyofpayment

methodswithinthesecategories.Witheachnewmarket,thenumberofpaymentmethodsthatneedtobeincorporatedincreases.

agabgndta

“

WorkingwithStripeandVTEX,theenterprisedigitalcommerceplatform,

[enabled]ustoexpandinternationally,fastandseamlessly,byprovidingourcustomersamoreefficientandsecurecheckoutprocess.”

NataliaMolina,ecommercedirector,AguaBendita

Foundedin2003,AguaBenditaisapartnershipbetweenMarianaHinestrozaandCatalinaÁlvarez,whobeganhandcraftingswimsuitsusingleftoverfabricsfromalocalclothingfactoryandtheirgrandmothers’sewingmachines.TogrowitspresenceoutsideofColombia,AguaBenditaknewitneededtheright

paymentspartnerthatwouldunlockeasyandsecureinternationalgrowth.

Whiletheroadtointernationalsuccessisnuanced,andhyper-localizedmarketexpansionstrategiesarenoteasytocreateorimplement,businessesaroundtheworldfeeltherearefewerrestrictionsonhowtheyoperateinternationallytodaycomparedtothepast.

Fiftypercentofbusinessesthinkitiseasiertodaytorunaninternationalbusinessthanitwasfiveyearsago.Only22%findithardertodoso.

Howdigitaltradeisreshapingtheglobaleconomy13

Isrunninganinternationalbusinesseasierorharderthanitwasfiveyearsago?

Businessespolledin2023

Businessespolledin2019

22%

28%

Easier

36%

Harder

50%

Aboutthesame/

don’tknow

42%

22%

Sources:Stripe/B2BInternationalbusinesssentimentsurvey,June2023,andStripeGlobal

Nativesreport,2019

In2019,Stripeaskedbusinessesaroundtheworldthissamequestioninthe

GlobalNatives

report.Atthetime,only36%ofbusinessessaidthatrunninganinternationalbusinesswaseasiercomparedtofiveyearsago,while42%saiditwashardertogointernational—exactlydoubletoday’sfigure.Thistrendsuggestsrenewedoptimismintheirlong-termabilitytorunaninternationalbusiness.

Whydobusinessesfinditeasiertorunaninternationalbusinessin2023than

fiveyearsago?

Moreavailabilityoftechnologyandtools89%

Betterphysicalinfrastructure16%

Moreskilledtalent15%

Fewerregulatoryhurdles14%

Moreavailabilityoffunding/capital13%

Morelocalmentors/advisors10%

Moregovernmentsupport8%

Source:Stripe/B2BInternationalbusinesssentimentsurvey,June2023

Thepoweroftheinternetandtheriseofdigitalexportsmakeglobaltradeeasierforeveryone

andaretheobviouscausesofthisoptimism.Inrecentyears,businesseshavegainedaccesstomoreadvancedtechnologiesandtoolsthatmaketheshifttointernationalgrowthsmootherandlesscomplex.

Accordingtothebusinesssentimentstudy,anoverwhelmingmajorityofbusinesses(89%)findtheseresourceskeytoaneasytransitiontointernationalexpansion.Thenexttwomostcommonlycited

reasonswereimprovedphysicalinfrastructure(16%)andthegreateravailabilityofdigitalskilledtalent(15%).

Howdigitaltradeisreshapingtheglobaleconomy14

Trend2:

Howdigitalexportsarecreatingmorediversifiedanddeconcentratedinternationaltraderoutes

Above:FastestgrowingdigitalexportsmarketsbasedonStripetransactiondata2021–2022

Theinternetwascreated50yearsagowiththevisionthatglobalinequalitycouldbedecreasedbyimprovingcommunicationandaccesstotheworldeconomy.

Halfacenturylater,wearestillonlyscratchingthesurfaceofwhatispossible,particularlyinusinginternetinfrastructuretocreateeconomicopportunitythattranscendsbordersandgeographies.

AnalysisfromtheInternationalMonetaryFund(IMF)

suggeststhatcountrieswithhigherlevels

ofdigitalconnectivitytendtohavehigherlevelsofeconomicgrowth.InSub-SaharanAfrica,the

IMFfoundthataonepercentincreaseintheshareofthepopulationusingtheinternetleadsto,onaverage,a0.37%increaseinthegrowthofrealpercapitaincome.

Exportsaremoreglobalinthedigitalera

Withtheriseofdigitalexports,tradeisalreadybecomingincreasinglydiversifiedanddeconcentrated.Whileinternationaltradeoncedependedongeographicproximityandwell-establishedphysical

traderoutes,businessesworldwidearenowabletosellinstantaneouslyacrosstheglobe.Small

manufacturersinMexicocaneasilyselltocustomersinSingapore,acreatorinruralJapancanselltoabuyerinFrance,andlargemultinationalsintheUScanrapidlyrolloutproductsinIreland.Thismeansthatproduct-marketfitcanbecomethekeydeterminingfactorwhenchoosingmarketsforinter