Digital economy report Pacific edition 2022: towards value creation and inclusiveness
Digital transformation is under way in the Pacific and presents both opportunities and challenges for the region. Improvements in digital connectivity across the region are converging with growing opportunities for e-commerce, digital payments and digital trade. For some businesses, electronic commerce is opening access to new domestic, regional and international markets. This is especially important for the Blue Pacific Continent to overcome the ‘tyranny of distance’ inherent in being isolated from global trade networks. The COVID-19 pandemic magnified the potential of digital technologies to provide solutions to socioeconomic challenges with new ways of working and communicating emerging across the region. In some countries, the pandemic was a catalyst that sped up long- planned digital initiatives. New mobile money and electronic payment systems accelerated financial inclusion across the region and businesses began turning to online platforms to market and sell their products. This report aims to strengthen the understanding of digital transformation in the Pacific. While there is no one-size- fits-all solution to address the unique digital challenges faced by the Pacific region, the report provides an overview of the current context and explores how policymakers and local, regional and international organizations can leverage digital technologies for socioeconomic development.