Digital Economy

In today’s world going digital is the rule, and for every country it is imperative to understand its importance in order to compete at a global level. Myanmar, which is one of the fastest growing economies, needs to do well in order to foster the economic development going on in the country.

 

Internet Penetration Rate – The numbers(There were 22.00 million internet users in Myanmar in January 2020) post 2018 regarding the IPR aren’t available for Myanmar. As of 2017, the rate of Internet Penetration lies at 41%. As per the first chart below it is observed that the internet penetration rate grew by 166% between 2014 & 2017. Although the chart shows there has been consistent growth through the years and that the country has a lot of potential which can be capitalised on. The rate internet penetration is the least developed in Myanmar when compared to the other ASEAN peers. Singapore’s internet penetration rate, leader in the ASEAN, is 2.5x more than that of Myanmar. This signifies that Myanmar should take necessary actions in order to better the situation of its under-developed Digital Economy.

 

Chart 1

 

 

Chart 2

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