The Digital Economy Strategy outlines the opportunity to unleash Jersey's digital economy to drive sustainable economic development by 2040. It emphasises collaboration with partners and Islanders to foster an entrepreneurial spirit, with a focus on both long-term vision and short-term deliverables that will evolve with community input.
Our standard of living in Jersey (£63,500 GDP per person) compares well with other developed countries, but our economy faces significant challenges from demographic shifts and weak levels of productivity. Since 2000, total economic output has plateaued while our population has increased, causing output per-person to fall by over a fifth. Productivity must increase if we are to (at least) maintain the standard of living we enjoy today.
The Strategy for Sustainable Economic Development sets out the Government's economic vision for Jersey, and developing our digital economy is fundamental to this. Enhancing Jersey's digital economy can drive significant productivity improvements, transform public services, enable rapid innovation and help develop valuable business and trade links across the globe.
We must be ambitious in our vision for the digital economy and its place in our future. We are committed to delivering on our vision through six cross-cutting themes, underpinned by clear, tangible actions. We have some key building blocks in place but must do more to take full advantage of them. The Island boasts a strong regulatory framework and high-speed digital connectivity. To open new opportunities, we must foster a culture of innovation and leverage our data protection laws and financial services sector to deliver economic growth.
If we deliver, our Island will reap the economic rewards. We will build a more resilient tax base, improve productivity and enhance Jersey's international reputation. The lifelong-learning focus will provide Islanders with rewarding jobs that are fit for the future, and increased digital adoption will make interactions with Government, utilities and businesses smoother and more personalised.
We are focused on delivery and will work closely with partners to deliver short-, medium- and long-term actions, set out under each of these six themes.
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