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Digital economy 'will create entirely new industries': PM
08/10/2012 - The fast-growing digital economy will underpin prosperity in Australia and open up new markets, particularly in Asia, over the next four years, Prime Minister Julia Gillard says.
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Economic activity directly related to internet-related businesses is forecast to contribute $70 billion to the Australian market in 2016, up from $50 billion.
Gillard on Friday opened a government-led forum in Sydney to explore opportunities for businesses as the government looks for ways to make Australia a leading global digital economy by 2020.
The forum, at the University of New South Wales, attracted representatives from 40 businesses including the Commonwealth Bank, Australia Post, Vodafone, eBay, Microsoft and Google.
"As the digital economy continues to alleviate the tyranny of distance, barriers to overseas markets will fall for Australian producers of goods and services," Gillard said.
"As economies in our region develop further, demand for Australian goods and services high up the value-add chain will increase, particularly as internet penetration increases."
Gillard says the digital marketplace will create entirely new industries that "none of us have imagined yet".
"What I do know is that the digital economy will bring money, jobs and sustained prosperity to Australia," she added.
The direct contribution of internet-related business to national gross domestic product (GDP) is expected to grow to $70 billion by 2016.
The prime minister said she wanted forum participants to share their experiences, identify challenges and maintain a dialogue to help make Australia a winner in the Asian Century.
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H.James | 8/10/2012 12:50 1
Perhaps our PM would like to put her Super up as feed capital on some of her beliefs? Picking investment winners has not been one of the better outcomes of this government to date. Perhaps with her own money, more dilligence may be applied than has been done so far.
Goldie | 10/10/2012 08:34 2
First it was the "new economy" that was going to save Australia when the situation in manufacturing deteriorated and we decided to impose an environmental tax on ourselves that no one else is seriously interested in doing. I and many others are still waiting for all those jobs in the "new economy" to start showing themselves so can the PM and the Greens please kick off this process before we move to the jobs in the digital age. Every day we hear that high wages, poor productivity and the high Australian dollar are the reason we are losing jobs hell west and crooked yet these con men masquerading as politicians keep telling us we are on the dawn of a new era. Idiots.
dave d | 10/10/2012 13:13 3
She still doesn't get it does she !!! "will create entirely new industries that "none of us have imagined yet".Translation - I don't know what or how but!!!!-will bring money, jobs and sustained prosperity to Australia," Translation -you can believe it because Ju-Liar said so - how does this woman sleep at night - after all this time - she still doesn't get it that people know that she is a Ju-LIAR
James | 31/10/2012 15:41 4
Hey Dave D As a Jewish person I take offense to that terminology - Ju-Liar. I know you didn't invent it but it is certainly your choice whether you decide to offend people by using it.
dave d | 1/11/2012 09:54 5
James I take deep offence to your comments - you and I both know my comments make play on Ju-Liars name re. her habit of lying. That you choose to turn this into a racial slur reflects obviously on your insecurities regarding your heritage and has nothing to do with this article nor do your accusations have any place in these discussions. Move on -
H.James | 1/11/2012 12:54 6
Well Goldie I'm presenting a paper at a conference this weekend and the subject is just this: How the internet will affect (my industry group). We aren't large in numbers but do impact on anyone with internal combustion engines right up to the big stuff in the mines. So if any "polies" are watching, be aware that we are looking for new ways of doing business. So far though, we can only see changes in our existing business models that will help us survive where others are fading away. We see improved efficiency in communicating the technical stuff and in advertising our services. If that is what the politicians also see? great. But I think that they are mainly dreamers wanting all of us to experiment with our hard-earned rather than them use their money to make all of these wonderous new discoveries. Really, we will still be doing the modern petrol, gas, and diesel engines for a long while yet. But we are looking and that is good news. Who knows, the conference might come up with something.
Mark Chapel | 2/11/2012 10:19 7
So to translate "something really good is going to happen, dunno what, but I have shut my eyes and clicked my heels 3 times so it must be true". I used to be in the digital world. The reality is there are many false industries being created that last one or two years then collapse. Never forget that, just like every other industry, there are a couple of giants that stifle competition. This announcement is just another warm fuzzy feeling with no basis in fact or actuality.
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