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AWS Global Digital Skills Study | The economic benefits of a tech-savvy workforce Top 5 Takeaways 1 Advanced digital skills raise global GDP by an estimated $6.3 trillion each year by boosting worker income and productivity. While most workers in the countries studied do not use advanced digital skills as part of their job, the income gains these workers garner scale to large national and global value. Advanced digital skills generate an estimated $4.2 trillion in annual GDP in the 19 countries included in this study and $6.3 trillion globally due to the income and productivity of these workers. When basic and intermediate digital skills are included, the total annual global value of digital skills comes to $18.5 trillion, which is approximately 12% of global GDP. Of course, the digital skills that yield gains in national GDP also generate significant income premia for the workers who use them. Across the 19 countries surveyed, the average worker with advanced digital skills in high-income countries reported earning 50% more than similar workers who do not use digital skills; in middle-income countries, the income premium was 72%. Gallup analysis of salary ranges listed for more than 100 million job openings posted between June 2021 and May 2022 tells a similar story. As the number of digital skills listed in a job vacancy increases, so too does the salary associated with that vacancy. Jobs that require 10 or more digital skills pay salaries that are 40% higher than jobs in the same country that require identical levels of education and experience but no digital skills. 2 In addition to workers' economic gains, job satisfaction and job security also rise with digital skill proficiency. Workers who acquire advanced digital skills realize benefits beyond higher salaries. Nearly three out of four workers (72%) who use advanced digital skills at work express high job satisfaction, compared to less than half of workers who only use basic digital skills (43%). Importantly, this is true even after controlling for other factors that may influence job satisfaction, such as age, gender and level of education. Additionally, workers with advanced digital skills express higher confidence in their job security than those with basic digital skills (72% versus 48%). 3 Organizations that rely heavily on advanced digital skills, digital technologies and cloud technology realize success rates for revenue growth and innovation that are notably higher than businesses that use fewer digital skills. The employer survey shows that companies with high levels of digital skill utilization report annual revenues that are approximately 168% higher than companies that do not use digital skills after adjusting for the number of employees, country and sector effects. Highly digital organizations are also more likely to have brought an innovative new product to market between 2020 and 2022: 72% of organizations that employ advanced digital workers reported introducing a new product in the past two years, compared to 47% of organizations that employ basic digital workers. Findings further show that organizations that employ advanced digital workers were 44% more likely to report steady annual revenue growth (meaning at least 10%) over the past year than organizations that employ only basic digital workers. Additionally, 66% of companies that run some or most of their business on the cloud reported innovating in the past two years, a rate roughly five times higher than the 13% of companies that do not use the cloud. Cloud- based companies were also more likely to experience revenue growth, which may create incentives for businesses to implement these systems and hire workers who are cloud proficient. Copyright © 2022 Gallup, Inc. All rights reserved. AWS_dsrprt_092922_kr 2