The anywhere economy is estimated to add
$19.4 trillion in cumulative GDP and
an average of 10% productivity growth in the ten studied countries
by 2030
Two-thirds of executives believe remote work
and digitalization has helped diversify the workforce
The anywhere economy is projected to create
2.6 million jobs in rural areas in 2030 alone
SAN
FRANCISCO, May 3, 2023 /PRNewswire/ -- DocuSign, Inc.
(NASDAQ: DOCU) today released findings from a new report,
"Unlocking the potential of the anywhere economy," that examines
the opportunities and challenges the anywhere economy brings to
people, businesses and countries. The findings of the report reveal
we have entered an era that is poised for considerable business
growth and the potential to experience new levels of
productivity.
The anywhere economy is estimated to add
$19.4 trillion in cumulative GDP in
the ten studied countries by 2030
The research, undertaken by think tank Economist Impact,
reveals insights from two global surveys across ten countries
to gauge the sentiments and experiences among consumers and
executives in the U.S., Australia,
Japan, France, Germany, Ireland, the UK, Brazil, Mexico and Canada, as well as new econometric models that
forecast the potential impacts of the anywhere economy in these
countries. The report reveals that both executives (59%) and
consumers (47%) expect the anywhere economy will continue to
accelerate, with an overall positive impact on job creation, a
broadened range of online services, and improved equity and
well-being.
"At DocuSign, we believe that technology can and should be a
force for good, a way to lift people up and bring people together,"
said Allan Thygesen, Chief Executive
Officer, DocuSign. "To realize the extraordinary surge in
productivity and expansion of the global economy that's possible
over the coming decade, leaders will need to embark on a new
journey that's rooted in innovation, transformation, and ultimately
trust in our digital future."
Driving Economic Growth Through Enhanced Productivity and
Innovation
The report shows that the anywhere economy will catalyze
economic growth by boosting productivity and spurring innovation.
In fact, more than three-quarters of surveyed executives agree that
the flexibility to work at any time and from any location has
increased productivity. Innovations, new product demands, and
transformation of how commercial relationships are conducted can
also improve workers' productivity at the micro level.
According to the report forecast, the anywhere economy has the
potential to boost productivity growth, defined as gross domestic
product (GDP) per worker:
- As the anywhere economy expands, productivity is expected to
grow in all ten countries, increasing at an average rate of
10% from 2021 to 2030.
- The top 5 countries with the biggest increases are the UK
(12%), Canada (11%) Germany (11%), France (10%) and the US (10%).
- The anywhere economy is estimated to add $2.6 trillion to the combined GDP of the
ten countries in 2030, and add a cumulative amount of
$19.4 trillion for the period
2022-30.
Business expenditure on R&D in all ten countries is also
estimated to increase significantly, capturing growth ranging from
29% to 51% in 2030 compared with 2021 levels. The top 5 countries
with the biggest increase are the UK (51%), France (47%), Germany (44%), the US (44%) and Canada (42%).
Expanding the Talent Pool and Capitalizing on DEI
The rise of hybrid work enabled organizations to consider
candidates from a wider geographic range and introduced new
opportunities for historically underrepresented individuals. The
majority (77%) of executives agree that the anywhere economy has
had a positive impact on their ability to hire from a wider
pool of candidates, while more than 60% said they hired workers in
new locations because of the possibility of remote working.
At the same time, the flexibility to work remotely improved
experiences for groups such as women, working parents, older
adults, and individuals with disabilities, encouraging them to stay
engaged in the workforce for longer.
Two-thirds of executives reported that the adoption of remote
work and increased digitalization have contributed to diversifying
the workforce, and more than three-quarters agreed that flexible
work schedules made their workforce more diverse and equitable.
According to the report's forecasts, the anywhere economy will:
- bring an additional 25 million women into the labor
force in 2030 alone, and the average female labor force
participation rate will be nearly 60% – up from 55% in 2021.
- bring an additional 10 million people aged 65+ into the
labor force in 2030 alone.
Shifting Economic Power Among Rural and Urban
Environments
The anywhere economy is shifting economic power for rural and
urban residents, with people aspiring to relocate due to increased
flexibility and connectivity. Workers are now persuaded that moving
to smaller cities may give them better housing and comparable
access to education and amenities without a consistent
time-consuming commute to the office.
- Nearly 60% of consumers, for example, say they would
want to live in a different place if cost, work and community ties
were not barriers.
- One-in-four people seek nomadic opportunities and would
prefer to continuously travel all over the world.
- 17% of companies have moved their offices from a large
city to the suburbs and 25% decreased the size of their
premises. One-third of companies also opened more satellite
offices.
This migration is also spurring economic growth in rural areas
with projections that an additional 2.6 million jobs
will be created in rural areas, in the ten countries studied, in
the year 2030 alone. The U.S. will see the largest increase in job
creation in rural areas with 860,000 new jobs expected in 2030.
Making the "Anywhere Economy" a Reality
The benefits of the anywhere economy can only be realized if new
systems are built on a foundation of trust. There is an implicit
trust in permitting employees to work away from where they can be
supervised directly, likewise in signing a contract with a supplier
on a different continent or purchasing a product online without
seeing it in person.
Deepening trust at all levels including in digital systems and
technology, information, employees and employers, and between
consumers and the online companies they patronize, is critical for
the expansion of the anywhere economy.
The complete findings can be found in the full "Unlocking the
potential of the anywhere economy" report.
Methodology
"Unlocking the potential of the anywhere economy" is a
research program conducted by Economist Impact and sponsored by
DocuSign. As part of the research, Economist Impact conducted two
global surveys in September 2022 of
764 business executives and 2,800 consumers in Australia, Japan, France, Germany, Ireland, the UK, Brazil, Mexico, Canada and the US. These surveys were paired
with a series of interviews with experts in addition to developing
a series of econometric models examining the potential impacts of
the anywhere economy – both positive and negative – in the ten
countries through a variety of socio-economic lenses.
Economist Impact also identified four areas that are expected
to be the most impacted by the anywhere economy and selected eight
indicators expected to be the most significant externalities,
including: workplace transformation, labour force and talent pool,
development equality, and trade and economic development. These
impacts were projected at the macro level from 2022-30 for the ten
countries included.
About DocuSign
DocuSign redefines how the world comes together and agrees,
making agreements smarter, easier and more trusted. As part of its
industry leading product lineup, DocuSign offers eSignature, the
world's #1 way to sign electronically on practically any device,
from almost anywhere, at any time. Today, over 1 million customers
and more than a billion users in over 180 countries use DocuSign
products and solutions to accelerate the process of doing business
and simplify people's lives. For more information visit
http://www.docusign.com.
Copyright 2023. DocuSign, Inc. is the owner of DOCUSIGN® and
all its other marks (www.docusign.com/IP).
About Economist Impact
Economist Impact combines the rigour of a think-tank with the
creativity of a media brand to engage a globally influential
audience. The organisation believes that evidence-based insights
can open debate, broaden perspectives and catalyse progress. The
services offered by Economist Impact previously existed within The
Economist Group as separate entities, including EIU Thought
Leadership, EIU Public Policy, EIU Health Policy, Economist Events
and SignalNoise.
Economist Impact builds on a 75-year track record of analysis
across 205 countries. Along with framework design, benchmarking,
economic and social impact analysis, forecasting, and scenario
modelling, the organisation provides creative storytelling, events
expertise, design-thinking solutions and market-leading media
products, making Economist Impact uniquely positioned to deliver
measurable outcomes to its clients.
Media Relations
Megan
Gregorio
media@docusign.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/docusign-reveals-the-anywhere-economy-will-spark-productivity-boom-and-expansion-of-global-economy-over-the-next-decade-301814037.html
SOURCE DocuSign, Inc.