Anywhere Economy Report

Unlocking the
potential of the
anywhere economy
Sponsored by
Unlocking the potential of the anywhere economy 2
Contents
3 About the research and acknowledgements
5 Foreword by DocuSign
6 Executive summary
8 Introduction
10 Economic competitiveness and prosperity
16 Distribution of development
22 Environmental sustainability
24 Outlook
26 Conclusion
27 Appendix: methodology note
© The Economist Group 2023

About the research and

acknowledgements
Unlocking the potential of the anywhere We conducted two global surveys between
economy is a research programme conducted by September and October 2022 to gauge
Economist Impact and sponsored by DocuSign. sentiments and check the reality among
It leverages insights from primary research consumers and executives, respectively. These
data, desk research, econometric modelling were fielded among 2,800 consumers in the
and expert interviews to understand the general population and 764 executives with
opportunities and challenges that the anywhere seniority at the director level and above. Both
economy brings to people, businesses and surveys were conducted in ten countries:
countries. In doing so, insights are generated Australia and Japan in Asia-Pacific, France,
to help organisations and societies leverage Germany, Ireland and the UK in Europe, Mexico
these new opportunities and thrive. and Brazil in Latin America, and Canada and
the US in North America. These surveys were
paired with a series of econometric models
and forecasts assessing the potential impacts
of the anywhere economy in the ten countries
through various socio-economic lenses.

We would like to thank the following The briefing paper was produced by a
experts for their time and insights: team of Economist Impact researchers,
editors and designers, including:
Anton Chuvakin, security advisor
at the office of the chief information Yuxin Lin—project director
security officer (CISO), Google Cloud
Durukhshan Esmati—project manager
Dr Soumitra Dutta, Peter Moores dean
and professor of management, Said Kathleen Harrington—lead analyst
Business School, University of Oxford Lavanya Sayal—data analyst
Dr Javier Lopez Gonzalez, senior trade Lindsey Boss—data analyst
policy analyst and senior economist, OECD
Mike Jakeman—writer
Dr Shane Greenstein, professor of business
administration, Harvard University Amanda Simms—editor
Claire Hastwell, senior content marketing NWC Design—designer

manager, Great Place To Work US
Economist Impact bears sole responsibility
Christy Hoffman, general secretary, for the content of this report. The findings
UNI Global Union and views expressed herein do not
necessarily reflect the views of our sponsor,
Alexander Holst, managing director, Accenture partners or interviewed experts.
Sabine Mueller, CEO, DHL Consulting
Dr Greg Wright, Fellow, lead of the Workforce

of the Future initiative, Brookings Institute

Foreword by DocuSign
Digitalization has made business more distributed and less coupled to time and place.
But even greater transformation lies ahead as new technologies drive an extraordinary
surge in productivity and expansion of the global economy over the coming decade.
Our current economic slowdown may prove to be just a lull before a new boom begins.
Beneath the surface a recovery is already taking shape, as forward-looking companies

are accelerating their investments in digital infrastructure to gain competitive advantage
and reap the benefits of the anywhere economy. We’re heartened by the survey results,
showing that so many executives and consumers share our excitement about the
possibilities that the anywhere economy presents.
At DocuSign we believe that technology can and should be a force for good, a way to lift
people up and bring people together. The anywhere economy is giving people greater
flexibility in how, when and where they work. This is boosting diversity and inclusion,
and creating new economic opportunities for people who previously have been
marginalized, including those in rural areas and developing economies.
To be sure, we face challenges. In this tech-driven economy, benefits accrue

disproportionately to organizations and countries that invest in building digital
infrastructure. This report serves as a call to action for governments to direct policies
and resources toward improving digital infrastructure and literacy, providing wider
access to technologies, and for corporations to pave the way and be a model for others.
Perhaps the most notable finding is the importance of trust, which is key to unlocking
the benefits of the anywhere economy. Trust means not only the ability to protect
against bad actors, but also to be a dependable, reliable partner—always. Trust removes
friction and makes business move faster. The acceleration may take place behind the
scenes, but the impact will be felt everywhere.
DocuSign is pleased to sponsor this report, which provides an exciting outlook for the
coming decade, in which the anywhere economy will create new opportunities and help
us build a more inclusive, equitable and sustainable world.
Allan Thygesen,
Chief Executive Officer, DocuSign

Executive summary
The advancement in digital tools and The acceleration of the anywhere economy
infrastructure, catalysed by the covid-19 has been rapid, and uncertainties remain about
pandemic, has upended the way hundreds of its indirect benefits and costs. For example,
millions of people live and work. The ability while remote work can help some workers
to work, socialise, and conduct personal and reduce their carbon footprint by eliminating
business activities online presents endless their daily commute, the benefits could be
possibilities. Our understanding of its impacts offset by increased emissions from air travel
on businesses, economies and the planet is to meet with colleagues in distant locations.
still evolving. Our study shows that, overall, Likewise, the development of the anywhere
both executives and consumers are confident economy may encourage advanced countries
that the anywhere economy will improve to invest in costly digital infrastructure,
economic conditions and personal lives. They such as data centres, potentially widening
also believe that embedding digitalisation the digital divide with emerging markets
in daily life can help overcome some of the that cannot make similar investments.
inequities of modern life and accelerate
the planet’s decarbonisation process. To this point, the anywhere economy has
demonstrated both positive and negative
impacts. Moving forward, it will be important
to maximise its benefits and minimise its costs.
What is the anywhere economy?
Achieving this goal requires a comprehensive
The anywhere economy is the flexibility brought by electronic understanding of the complex effects that
devices, internet connectivity and digital platforms that the anywhere economy has on our lives.
allows communication, collaboration and transactions to
take place in real-time and independent of space. This new
economic era is defined by the capacity to conduct business,
leisure and personal activities in any location at any time.

Key findings:
The anywhere economy is rapidly jobs, while eight of the ten studied countries
expanding, and executives and consumers will see a drop in the percentage of low-income
are enthusiastic about its potential. households. Investing in infrastructure will ensure
Fifty-nine percent of executives and 47% of that rural areas and emerging economies can
consumers expect the anywhere economy benefit from these opportunities, and skill-
to accelerate further. They believe it will building programmes will enable low-income
have an overall positive impact by creating and remote populations to take advantage of
jobs, broadening the range of online services, remote jobs, which are predominantly digital.
and improving equity, health and well-being.
Despite broad overall enthusiasm about the Fostering trust is essential to unleashing the
anywhere economy from both surveyed potential of the anywhere economy. Trust
groups, the executives, who typically earn forms the bedrock of key relationships in the
more, were more optimistic than consumers. anywhere economy, including trust in digital
systems, in information, between employees
The anywhere economy is linked to economic and employers, and between consumers and
growth. The anywhere economy allows for the online companies they patronise. Sixty-eight
flexibility in the workplace and offers a digital percent of executives say that the anywhere
foundation for online marketplaces to thrive, economy has positively impacted their
resulting in macroeconomic gains. Economist organisation’s ability to cultivate trust in business
Impact models suggest that as the anywhere relationships, and 65% say it has bolstered
economy expands, the purchasing power parity their organisation’s reputation and consumer
(PPP) converted GDP will cumulatively expand trust. However, trust can be jeopardised by
by US$19.4trn during 2022-30 across the ten cybersecurity threats, which top the list of areas
selected countries. This is driven, in part, by requiring greater attention and investment to
increased productivity growth and expanded create the right ecosystem for the expansion of
labour force participation enabled by remote the anywhere economy—44% of consumers and
work. Productivity will grow in all ten countries 46% of executives selected cybersecurity as the
studied, increasing on average by 10% over the area most in need of attention and investment.
forecast period, the average female labour force
participation rate will rise by five percentage Recognising the constraints of the anywhere
points (from 55% in 2021 to nearly 60% in economy can lead the way to a more
2030), and older adults’ average labour force effective path forward. Experts noted that
participation rate will also rise by five percentage the anywhere economy hinges on the capability
points (from 15% in 2021 to 20% in 2030). to be truly “anywhere”. However, in this new
economy, jobs in certain sectors such as retail
By improving digital infrastructure and or healthcare may not be accommodated,
investing in digital skill-building on a national global trade can be subject to government
level, the anywhere economy can play a restrictions, and unequal access to the internet
vital role in promoting equity. Although there and digital services can impede progress of
is a risk that the digital divide may hinder its the anywhere economy. To fully capitalise
potential for development, our models show on the advantages of this new economic
that the anywhere economy can enhance equity. era, policymakers and companies should
For every 1,000 rural residents aged 15+, the acknowledge and manage these limitations.
anywhere economy will bring about 20 additional

I. Introduction
Digitalisation is one of the most profound “In theory, the economy is at our fingertips”,
societal and economic advances made since explains Dr Javier Lopez Gonzalez, a senior
the turn of the millennium. The ways that trade policy analyst at the OECD.1 Dr Shane
hundreds of millions of people live and work Greenstein of Harvard University adds that the
have transformed from just two decades ago. anywhere economy reduces the limitations
Internet access, the shrinkage of processing of physical geography.2 This ability to conduct
power into mobile devices, the optimisation communication, collaboration and transactions
of software platforms and the development in real-time and independent of space is
of powerful servers created the infrastructure what we call the anywhere economy.
needed to enable digitalisation. Today, many of
us do our jobs, run our social lives, complete our Despite the potential of digitalisation, we lacked
shopping and fulfil our administrative tasks using the catalyst to use it to its full extent. The
nothing more than the devices in our pockets. covid-19 pandemic acted as the accelerator
for consumers and businesses to incorporate
digital processes more deeply into their lives and
“In theory, the economy is at our fingertips.” activities. According to our survey, around two-
thirds of the consumer respondents reported that
Dr Javier Lopez Gonzalez, senior trade policy analyst the pandemic had either prompted them to start
and senior economist, OECD
online shopping and streaming entertainment
or increased the frequency of engaging in both.
Flexibility is a central feature of this new reality. Additionally, 60% of respondents reported
We no longer need to be in the workplace, using video calls more, while half indicated
shop at the store or go to the bank to meet an increased level of online socialising.
our responsibilities. All these activities can
now be conducted online, in real-time.
Economist Impact interview

1

2

This pattern was repeated in the commercial creating some of the world’s most valuable
domain. Organisations are revisiting their companies and sending others into obsolescence.
strategies around people, processes and places
to keep up pace with the anywhere economy. Our research examines the following
Since the onset of the pandemic, almost 90% dimensions that the anywhere economy has
of surveyed executives registered increased impacted: i) economic competitiveness and
communications on digital platforms between prosperity; ii) the distribution of economic
colleagues and with customers and 77% had development; and iii) environmental
started or increased selling products or services sustainability. The report will also discuss
online. The enthusiasm to provide these the crucial role of increased access to digital
services at the highest quality and the greatest connectivity infrastructure and trust-building
convenience has upended the global economy, in the outlook for the anywhere economy.
Limitations of the anywhere economy
Although the anywhere economy offers new pathways for achieving economic growth
and prosperity, experts noted that limitations still exist. Sabine Mueller, CEO of DHL
Consulting, says that “the system is not as flexible as the technologies … e-commerce gets
more complicated as soon as borders are crossed.” She adds that “customs, embargoes and
compliance with regulations and data security must be ensured.” Dr Shane Greenstein of
Harvard University agrees, arguing that although the anywhere economy brings down costs,
governments still impose taxes and tariffs on transactions, limiting the truly global reach.
On whether the anywhere economy can be truly “anywhere”, Dr Greenstein notes that “it is
not entirely independent of distance, as time zones still matter.” Equity questions are also a
major determinant of whether the anywhere economy lives up to its name. If the internet
is not everywhere, a digital divide exists, and thus the anywhere economy cannot truly be
“anywhere”. This also applies to different jobs and workflows. At present, work in many crucial
sectors, such as retail or healthcare, cannot be done anytime or anywhere. These roles are
still bound by geography, so employees in these fields are excluded from this new economy.

II. Economic competitiveness

and prosperity
With the advent of the anywhere economy, A. Boosting productivity

online e-commerce marketplaces are booming,
remote work is commonplace, and digital Innovations, new product demands and shifting
products, such as streamed movies, music and ways of conducting commercial relationships can
video games, are widely available for consumers. improve workers' productivity at the micro level.
The anywhere economy is transforming global Studies have suggested that moving workers to
marketplaces, demanding innovation and hybrid models can generate substantial savings
enabling productivity gains. Greater flexibility for firms, notably through higher productivity
also allows access to a wider pool of candidates. due to lower absenteeism and staff turnover. 3
These effects ushered in by the anywhere More than three-quarters of surveyed executives
economy will catalyse economic growth. agreed that the ability to work at any time and
from any location has increased productivity.
According to Economist Impact’s According to Economist Impact estimates,

the anywhere economy has the potential
estimates, as the anywhere economy to boost productivity (defined as GDP per
expands, productivity will grow in all worker). The results suggest that as the
anywhere economy expands, productivity
ten countries, increasing on average will grow in all ten countries, increasing on
by 10% over the forecast period. average by 10% over the forecast period.4
See for example: https://globalworkplaceanalytics.com/cut-oil

3
Mexico and Brazil are presented in a separate graph to better reflect the scale. In Brazil and Mexico, the overall productivity in terms of GDP
4
per worker is lower than the other eight countries, although they experience similar relative growth gains over the forecast period.

Labour productivity (GDP per worker, Labour productivity (GDP per worker,
US$ at PPP) - developed countries US$ at PPP) - emerging markets
2022–30 2022–30
120,000 The US 35,000
Mexico
110,000
100,000
90,000 30,000
Ireland Brazil
Canada
Australia
Germany
80,000 France
The UK
70,000
Japan
60,000 25,000
2010 2015 2020 2025 2030 2010 2015 2020 2025 2030
Spurring innovation
As companies look to take advantage of the demand for new products and services in the
anywhere economy, the need for innovation takes centre stage. More research and development
(R&D) spending is required to understand and meet the opportunities associated with digital
services within the anywhere economy, in areas as diverse as telemedicine, logistics and banking.
According to Economist Impact estimates, as the anywhere economy expands, business

expenditure on R&D in all ten countries will increase significantly—reaching 1.3-1.5 times its 2021
level by 2030. The UK and France are projected to have the highest growth rate over the forecast
period, at 51% and 47% respectively; government action to prioritise R&D expenditure in these
countries places innovation at the forefront, leading them to excel in this area.5
https://www.gov.ie/ga/preasraitis/18f45-minister-harris-launches-impact-2030-irelands-new-research-and-innovation-strategy/
5
B. Expanding the talent pool

Remote work flexibility has opened up new candidates. They were enthusiastic about the
hiring opportunities for organisations by potential benefits of broader hiring for promoting
allowing them to consider candidates from diversity and inclusion. Most executives and
a wider geographic range. Remote work has consumers believe that the anywhere economy
also enabled groups such as working parents, enhances labour market access for groups such
older adults and individuals with disabilities to as individuals with a disability, working parents,
work from the comfort of their homes, avoiding women and older adults (aged 65 and above).
the challenges of a daily commute or physical
work settings. Women also stand to benefit. To see what this looks like in practice, we
Gender-based discrimination and burdensome estimated the change in the female and older
caregiving responsibilities can disadvantage adults’ labour force participation rate (LFPR)
women’s advancement in the workforce, and the stemming from the anywhere economy in
anywhere economy can help assuage inequity the ten studied countries during 2022-30. We
by opening up new opportunities. The majority forecast that an additional 25 million women
(77%) of surveyed executives agreed that the will be brought into the labour force in 2030
anywhere economy had a positive impact alone. This represents an average growth of
on their ability to hire from a wider pool of five percentage points, from 55% in 2021 to
nearly 60% in 2030. The two emerging markets,
Brazil and Mexico, will see the largest gains in
their female LFPR, at 6.6 and 8.0 percentage
Across the ten countries, for every 1,000 points, respectively—although their overall
female LFPR is lower than that of most
women aged 15 and above, the anywhere developed countries. Across the ten countries,
economy is estimated to draw 48 additional for every 1,000 women aged 15 and above, the
anywhere economy is estimated to draw 48
women to join the labour force. additional women to join the labour force.

Expansion of female LFPR associated with the expansion of the anywhere economy
Female LFPR (%) cumulative, up to 2021 Female LFPR growth (%) 2022–30
0% 10% 20% 30% 40% 50% 60%

Australia 62% 4% 66%
Brazil 52% 7% 59%
Canada 59% 4% 63%
France 51% 5% 55%
Germany 55% 4% 59%
Ireland 58% 4% 62%
Japan 54% 4% 58%
Mexico 45% 8% 53%
The UK 57% 4% 61%
The US 55% 4% 59%

Flexible work hours and the option to telework to 33.5% in Mexico. The two emerging markets,
also offer opportunities for older adults to stay Brazil and Mexico, will see the largest gains
engaged in the workforce for longer.6 Our forecast in the older adults’ LFPRs. Despite having the
shows that across the ten countries, the anywhere lowest LFPR of older adults among the studied
economy will bring an additional 10 million people countries, France will still see their rate double
aged 65+ into the labour force in 2030 alone. The from 4% in 2021 to nearly 9% in 2030. Across the
older adults’ average LFPR will be nearly 20%, up ten countries, for every 1,000 people aged 65+,
from 15% in 2021. This rise varies on a country- the anywhere economy is estimated to draw
by-country basis, ranging from 8.8% in France 47 additional older adults to the labour force.
Expansion of older adults' LFPR associated with the expansion of the anywhere economy
Older adult LFPR (%) cumulative, up to 2021 Older adult LFPR growth (%) 2022–30
0% 5% 10% 15% 20% 25% 30%
Australia 15% 4% 19%
Brazil 14% 6% 20%
Canada 13% 4% 17%
France 4% 5% 9%
Germany 7% 5% 12%
Ireland 14% 4% 18%
Japan 25% 4% 29%
Mexico 28% 5% 33%
The UK 12% 5% 17%
The US 19% 4% 23%
https://gacommuteoptions.com/about-us/media-center/flexwork-for-an-aging-workforce/
6

The “anywhere” nature of the anywhere economy Conducting business online generates
extends to global recruitment. Almost two- opportunities to create new products and
thirds of executives said that the anywhere services and sell them into new markets. Seventy
economy had expanded their organisation’s percent of the surveyed executives agreed that
recruitment geographically, while a quarter the ability to connect to global buyers and sellers
said that their firm was planning to do so. More online has enabled more cross-border business.
than three-quarters agreed that it had opened This is primarily because it removes one of the
up a wider talent pool, and more than 60% said biggest barriers to trade: the need for buyers and
that they had hired workers in new locations sellers to be in the same place for the transaction.
because of the possibility of remote working. Harvard Business School’s Dr Greenstein
Competition for labour in the anywhere economy explains: “Digital commerce has improved both
is further encouraging firms to open up hiring standardisation and personalisation: suppliers
across geographies and demographics. have access to more buyers, and buyers
have access to more suppliers. This removes
a lot of the friction from a transaction.”8
C. Economic growth The opportunity to increase their sales of digital
Taken together, access to a larger labour force and services was a primary reason for organisations
higher productivity ushered in by the anywhere to participate in the anywhere economy,
economy will catalyse economic growth. We according to the executives we surveyed. “There
estimate that US$2.6trn will be added to the is a natural tendency towards economies of
combined GDP of the ten countries in 2030 alone, scale, as new digital products are being created,”
with a cumulative US$19.4trn over 2022-30.7 notes Dr Lopez Gonzalez of the OECD. In short,
the anywhere economy facilitates economic
growth by providing the tools necessary to
US$2.6trn will be added to the combined expand the existing growth patterns.
GDP of the ten countries in 2030 alone, with
a cumulative US$19.4trn over 2022-30.
Consumer-facing marketplaces are set to
experience similar growth. Sabine Mueller, the
CEO of DHL Consulting, recognises that “global
e-commerce offers unprecedented opportunities
for businesses to expand their reach and increase
their profits.” The increased flexibility and access
to a wider range of goods and services via online
platforms can extend to consumers’ greater
access to leisure and educational opportunities.
Consumer expenditure on leisure and education
is projected to grow across the ten studied
countries, with Ireland, Mexico and Australia
expected to experience the largest increases,
at 1.3-1.5 times their 2021 level by 2030.
7
This GDP is measured using purchasing power parity (PPP) to establish an equilibrium among various countries’ currencies, enabling a more precise comparison of
economic growth across countries.
8

III. Distribution of
development
Participation in the anywhere economy relies on

having stable and useful access to its platforms.
All its benefits are predicated on the assumption
of access, and developed markets tend to benefit
more. Therefore, a central question surrounding
the value of the anywhere economy is its long-
term impact on inequality between countries.
Access to the anywhere economy is impossible
without sophisticated mobile devices and
affordable and reliable internet connections. The
provision of these attributes varies wildly around
the world. Almost half of the world’s eight billion
people remain offline. Men are 21% more likely
to be online than women, and that number rises
to 52% in the world’s least developed countries.9
The issue of access is not limited to emerging

markets. Distribution gaps also exist within
advanced economies. A researcher at Stanford
University found that only 65% of Americans
reported having a sufficiently fast internet
connection to support video calls.10 The
Australian Digital Inclusion Index, a study
produced in collaboration between telecom
providers and academics, found major differences
in inclusion between highly educated Australians
and the elderly, those on low incomes and
those with low educational achievement.11
9
https://impact.economist.com/projects/inclusive-internet-index/
10
https://news.stanford.edu/2020/06/29/snapshot-new-working-home-economy/
11
https://www.digitalinclusionindex.org.au/dashboard/Total.aspx

A. Distribution of development between countries

The distribution gap between countries poses Christy Hoffman of UNI Global Union shares this
the largest scale risk, and global action is concern, commenting that the working conditions
needed to ensure that the anywhere economy in low-income countries may face a greater risk
does not push emerging markets further of falling behind under the anywhere economy.
behind. Dr Dutta of the University of Oxford Remote work, particularly in countries with
argues that digital technologies increase inadequate digital infrastructure, weak labour
inequities worldwide because they have a law enforcement, and insufficient coverage of
multiplier effect. Wealthier countries can use collective bargaining, may conceal workers'
the advantages of the anywhere economy to issues from trade union representatives and
create value at a higher rate.12 He predicts that regulators. Additionally, it could fragment
the value-creation gap between developed the workforce, making collective action
and less developed countries will continue to considerably more challenging.13 Without the
widen as technological capabilities expand. same infrastructure, institutions and skills to
benefit from the same multiplier effects of the
anywhere economy, developing countries risk
falling behind. Facilitating access by investing
in and improving digital infrastructure and
focusing on skill-building at the national
level will be crucial to close the gap between
advanced economies and emerging markets.
Dr Dutta of the University of

Oxford argues that digital
technologies increase
inequities worldwide because
they have a multiplier effect.
Wealthier countries can
use the advantages of the
anywhere economy to create
value at a higher rate.
https://www.un.org/technologybank/news/ldc-insight-4-strengthening-digital-capacities-least-developed-countries-even-more-urgent-post
12

13

B. Distribution of development within countries

Over the past 50 years, deindustrialisation in give them better housing and comparable
advanced economies, enabled by deepening access to education and amenities without
globalisation, has resulted in a greater shift in a time-consuming commute to the office.18
economic power from rural to urban areas.14 Companies have also spotted the potential
As cities have grown, agglomeration effects benefits of this trend. A third opened more
have spurred their growth still further.15 Dr satellite offices, indicating an acceptance of
Greenstein of Harvard University cites data their employees’ desire to move, and a quarter
centres as a good example of such an effect: shrank the size of their premises, a more obvious
“Data centres are not placed in low-density commitment to hybrid working in the long
areas. The next-generation technology requires term. Already, 17% of companies have moved
a huge amount of investment, so it favours more their offices from a large city to the suburbs.
developed and high-density areas”.16 Despite Consumer respondents are enthusiastic about
greater property costs, it remains preferable for the shift, with a plurality believing that the
firms to invest closer to where more people live anywhere economy will increase the value of
and work because there is greater capacity for their home (49%), increase investment in local
cost savings and better performance across a technology infrastructure (48%) and improve
higher volume of users.17 Accordingly, a higher their access to job opportunities (43%).
proportion of our executives and consumers
that live in urban areas believe that their Economist Impact estimates that across the ten
communities have received more investment countries, the anywhere economy will create
from corporations than those in rural areas. an additional 2.6 million jobs in rural areas in
2030 alone. The average rural employment
rate (age 15+) will rise from 57% in 2021 to 59%
The average rural employment rate in 2030—ie, for every 1,000 rural residents
(age 15+) will rise from 57% in 2021 to age 15+, the anywhere economy will bring
about 20 additional jobs. Notably, Brazil will
59% in 2030—ie, for every 1,000 rural see the largest gain in the rural employment
residents age 15+, the anywhere economy rate during 2021-30 (2.4 percentage points),
while the US will see the largest increase in
will bring about 20 additional jobs. job creation in rural areas (860,000) in 2030.
However, the anywhere economy offers a Our forecasts on household income distribution
compelling vision of something different. The look at the percentage of low-income households
pandemic persuaded many workers, typically within the economy and show a similar trend.
those with higher education and income With the exception of France and Ireland,
levels, that moving to smaller cities would all countries assessed will see a decrease in
14
https://www.oecd-ilibrary.org/docserver/5jlr068802f7-en.pdf?expires=1677781767&id=id&accname=guest&checksum=008B2C16F27F9D349077320B15EA7656
15
https://onlinelibrary.wiley.com/doi/abs/10.1111/j.1467-9787.2009.00657.x
16
17
https://hbswk.hbs.edu/item/where-the-cloud-rests-the-economic-geography-of-data-centers
18
https://www.bbc.com/worklife/article/20220125-the-small-cities-and-towns-booming-from-remote-work ; https://www.governing.com/work/small-towns-draw-
remote-workers-for-lifestyle-affordability; https://www.pewresearch.org/social-trends/2022/02/16/covid-19-pandemic-continues-to-reshape-work-in-america/

the percentage of low-income households, will see an increase in the percentage of low
indicating an improvement in household income households, rising by nearly 2 percentage
income distribution. Notably, Mexico will points and 0.4 percentage points, respectively.
see the greatest improvement (reduced by 7 Both France and Ireland have historically
percentage points), potentially driven by the reported higher levels of inequality than most
recent significant increase in investments in EU countries, which may, in part, negate the
social security benefits in addition to the impact anywhere economy’s capacity to lower the
of the anywhere economy.19 France and Ireland percentage of low-income households.20
How does the anywhere economy change where people live?
Gen Z, Millennial and Gen X consumers were more likely to prefer a hybrid model than Baby
Boomers. Roughly 40% of Gen Z, Millennials and Gen X reported a preference for a hybrid
work model compared with 23% of Baby Boomers. Gen X was the generation most likely
to prefer a fully remote work model (15%), and men tend to prefer fully in-person models
compared with women (34% to 28%).
For employees, the anywhere economy also allows them to live wherever they wish rather
than where they can find work. Remarkably, 57% of consumers said that if cost, work and
community ties were not a restraint, they would like to live in a different place. Of
those, 18% would like to live somewhere else in the same country, 14% would like to move
internationally, and 25% would like to travel continuously all over the world. The pandemic
appears to have jolted some of this group into action. A global services company, PwC,
estimated in 2021 that 12% of US workers had moved at least 50 miles away from a core
office location since the start of the pandemic, while another 22% were planning to do so.
However, Greg Wright of the Brookings Institute and Christy Hoffman, general secretary of
UNI Global Union, pointed out that some workers will always be excluded from the anywhere
economy because their jobs require them to work at fixed locations: in hospitals, schools,
science labs and airports, for instance. This could be because of the need to use specialised
equipment or the necessity of interacting face-to-face with customers.
https://www.imf.org/en/Publications/WP/Issues/2019/07/11/Income-Inequality-and-Government-Transfers-in-Mexico-47015
19
https://www.irishtimes.com/business/economy/income-inequality-in-ireland-the-devil-is-in-the-detail-1.4653255
20

C. Diversity, equity and inclusion

Two-thirds of executives stated that the of these groups. Greater access may help
adoption of remote work and increased people in marginalised groups land a job, but
digitalisation have contributed to diversifying new barriers may prevent upward mobility
the workforce, and more than three-quarters and success if they are not targeted and
agreed that flexible work schedules had made addressed. For example, 61% of executives are
their workforce more diverse and equitable. It concerned that older adults may face fewer job
is easy to imagine why this might be the case. opportunities due to insufficient technical skills.
Working remotely is likely to generate more
employment opportunities for employees who Consumers were more cautious than executives
need to work more flexible hours because of their in endorsing the anywhere economy’s role
domestic situations or need adapted equipment in improving job opportunities for women,
at home. Claire Hastwell of Great Place To Work parents, the disabled and older workers. The
confirms that “people with disabilities felt like share saying that it improves women’s access
their health and psychological safety improved to the labour market was nine percentage
when they were able to work from home.” 21 points lower than for executives. There were
similarly large gaps between the two groups
The majority of executives and consumers in their view of older adults’ access to remote
recognised that the anywhere economy will work opportunities (11 percentage points) and
expand access to the job market for older adults, working parents (6 percentage points), but it
women, the disabled and working parents was less of a marked difference for disabled
through working flexibly and/or remotely. workers (2 percentage points). The divisions in
However, respondents also expressed concern consumers' and executives' income levels and
that insufficient technical skills or a lack of varied experiences within the workforce are likely
visibility could negatively impact members to explain some of these differences of opinion.
Percentage of respondents who agree with anywhere economy's impact

of increased access to job opportunities for select demographic groups
Executives Consumers
0% 10% 20% 30% 40% 50% 60% 70% 80%

People with disabilities will have 74%
greater access to the labour market
due to remote work opportunities 72%
Working parents will be able to fulfil 75%

care responsibilities while having
greater access to the labour market 69%
Women will have greater 71%

access to the labour market 61%
Working parents will have 65%

greater access to higher
paying/formal/regulated jobs 54%

21

The survey indicated that the benefits D. How can equity gaps be remedied?
of conducting activities online are
disproportionately distributed across the income The anywhere economy could reduce social
spectrum. Executives and consumers are both inequity if access can be made available to
positive about its potential: three-quarters of those currently excluded. Two-thirds of the
executives and more than half of consumers executives and over half of the consumers agreed
believe that increased flexibility in when and that enhancing connectivity, financial inclusion
where we work, exercise and socialise has and access to trade and services through the
improved health and well-being, with the ease anywhere economy could be a great social
of connecting with friends and family remotely equaliser. A similar proportion of our executives
being a major contributor. High-income earners agreed that the anywhere economy is helping
were much more upbeat. There was a gap of emerging markets to become more prominent
12 percentage points between high- and low- in global trade. Actions such as government
income earners reporting a positive impact on investment in internet infrastructure and the
their physical health and a seven percentage development of accessible technology training
point difference reporting improved mental well- programmes can alleviate equity gaps and help
being. Moreover, 25% of low-income consumers make the benefits of the anywhere economy
felt that the impact of digital technology on apply more broadly to marginalised groups. If
mental health deserved more attention and policy measures are taken to improve access, the
investment, compared with 20% of high-income anywhere economy could be a force for good.
earners. High-income earners and executives
have more confidence that corrective actions
will be taken to use the anywhere economy
as a tool for equitable development.

IV. Environmental
sustainability
A study of the environmental effects of the It is possible that remote working continues
anywhere economy is necessary to understand its to promote environmental sustainability,
overall impact. Given the short timeframe since but that more emissions-heavy drivers are
the anywhere economy became more embedded overshadowing it. The most obvious route
in societies and the simultaneous volatility in through which the anywhere economy can
many economic indicators, it is still hard to see reduce emissions is by cutting down on
a clear picture. For example, global greenhouse commuting. The US Environmental Protection
gas (GHG) emissions fell by 5.3% in 2020 from Agency calculated that transport emissions,
2019. This decline, unprecedented in modern which account for around a quarter of the
history, was an externality of the pandemic, but total US GHG emissions, fell by 13% in 2020.24
led to hopes that the anywhere economy could This is a significant decline in the context of
become a driver of falling carbon emissions and the emissions produced by the world’s largest
greater environmental sustainability.22 Since economy. However, this drop occurred during a
the pandemic abated and economies reopened, severe recession. Some journeys were foregone
emissions have reverted to their previous levels.23 because consumer demand for goods declined,
and others because jobs were lost. The impact
purely from lost commuting will be smaller.
Almost three-quarters of the executives
surveyed agreed that remote working has There are other factors in play too. Some workers
will offset many low-emission train journeys
enabled their organisations to progress with a smaller number of emission-intensive
towards net-zero targets, and two-thirds flights to see colleagues who now work in more
distant locations. Emissions saved in energy-
reported using emissions data to make more efficient offices could be replaced by those
environmentally sustainable decisions. generated in less efficient homes. A study by
the US National Bureau of Economic Research
found that electricity usage during the height
of the pandemic in the second quarter of 2020
fell by just 3.5% from the year-earlier period.
22
https://edgar.jrc.ec.europa.eu/report_2022
23
https://www.iea.org/news/global-co2-emissions-rose-less-than-initially-feared-in-2022-as-clean-energy-growth-offset-much-of-the-impact-of-greater-coal-and-oil-use
24
https://www.epa.gov/ghgemissions/sources-greenhouse-gas-emissions#:~:text=From%202019%20to%202020%2C%20transportation,that%20led%20to%20less%20travel.

This is because a 10% increase in domestic progress towards net-zero targets, and two-
electricity consumption largely offset a 12% thirds reported using emissions data to make
fall in commercial use and a 14% drop in more environmentally sustainable decisions.
industrial demand.25 The environmental impacts
tend to “cancel out”, which is why current Around a third of consumers believe that a
environmental impact studies are inconclusive. positive feedback loop is possible. They believe
that environmentally friendly digital solutions
Executives appear to be more optimistic can help tackle climate change, leading to the
about the positive impact of the anywhere greater adoption of such solutions, which then
economy on environmental sustainability than spurs stronger climate mitigation. However, one
consumers. Forty-seven percent believe that note of caution came from Alexander Holst, a
reduced commuting is the biggest environmental managing director at Accenture. He remarked
benefit. Energy savings through smaller that the benefits will only be felt if we commit to
physical offices was another popular choice, sustainability wholeheartedly. Intentional action
as was forgone longer-haul business travel. to ensure that advancements of the anywhere
Almost three-quarters agreed that remote economy are also sustainable is needed to ensure
working has enabled their organisations to the environmental impact is net positive.
Executives and consumers' perceptions on the environmental

sustainability impact of the anywhere economy
Executives Consumers
0% 10% 20% 30% 40% 50%
Reduced carbon emissions 47%

due to reduced commuting 43%
Energy savings at physical offices 46%

due to fewer in-person employees 37%
Reduced carbon emissions 37%

due to less business travel 36%
Reduced environmental pollution 36%

due to reduced usage of paper 33%
38%
Environmental conservation due to the adoption
of renewable energy for digital technologies 31%
Improved compliance with sustainability 34%

targets due to better data sharing 21%
None of these areas offers 3%

significant environmental benefit 15%
https://www.nber.org/digest/202012/working-homes-impact-electricity-use-pandemic
25

V. Outlook
We have entered the age of the anywhere reputation. They identified increased trade in
economy. The pandemic provided the impetus digital services (33%), expanding business at
for its rapid progression, but its full potential home and abroad (31%), and greater competition
has not yet been realised. Questions remain in the market (29%) as the most significant ways
about what the progression of the anywhere that the anywhere economy will benefit their
economy will look like and what that means businesses. Consumers were almost as optimistic,
for people, businesses and economies. citing time-saving, greater access to goods and
services, and easier connections to friends,
A. Adoption of the anywhere family and co-workers as the greatest benefits.
economy is likely to accelerate
B. Trust must be built to enable
The anywhere economy is here to stay, and this acceleration to happen
businesses and consumers will continue to
adapt their behaviour to the new technology The expansion of the anywhere economy relies
and infrastructure. Around a third of executives on a continuation and a deepening of trust at
and consumers believe that complex risks all levels. Sixty-eight percent of executives say
or crises, such as the pandemic or climate the anywhere economy has positively impacted
change, will deepen our dependence on their organisation’s ability to develop trust in
digitalisation. Many believe that the role played business relations, and 65% say it has improved
by the anywhere economy in our lives will only their organisation’s reputation and consumer
grow as a consequence. Fifty-nine percent trust. Consumers also have trust in the anywhere
of executives and 47% of consumers expect economy. Forty-four percent report that it has
its expansion to accelerate in the future. positively impacted their trust in information,
and 42% say the same for companies. There
The surveyed executives and consumers are is an implicit trust in permitting employees to
excited about the opportunity to maximise work away from where they can be supervised
the benefits of the anywhere economy. Most directly, likewise in signing a contract with a
executives reported a positive impact of the supplier on a different continent or purchasing
anywhere economy on their organisations in a product online without seeing it in person.
areas such as productivity, profitability and

C. Digital literacy and infrastructure

should become more inclusive
Our survey respondents identified digital literacy
and infrastructure as the second and third
most significant barriers to the acceleration of
the anywhere economy, after cybersecurity.
Widespread access can only exist if users
have the physical capacity and understanding
to utilise digital devices successfully.
It is vital to increase the proportion of

the population that feels comfortable
participating in the anywhere economy to
Ensuring the reliability of the technology that enable it to be a driver of greater equality.
forms the foundation of the anywhere economy
The age of digital literacy emphasises the ability
is crucial for maintaining trust. Anton Chuvakin,
to validate knowledge and distinguish between
security advisor at the office of the chief
fact and fiction.27 This validation process is a skill,
information security officer (CISO) at Google
and practising it builds the foundation of trust
Cloud, warns that “as we become more digital,
that underpins the anywhere economy. Digital
cybersecurity needs and risks change. There
literacy varies between countries and socio-
are risks to the business, data and society.” 26
economic groups, and executives are aware of
Weak security protections, lagging regulation,
the need to promote it among their employees.
and concerns about the health and well-being
Sixty percent of organisations report that they
impacts of our dependency on technology
have increased online skill development courses
were all viewed as impediments to the growth
because of the pandemic, but the need to develop
of the anywhere economy by respondents.
digital literacy extends beyond organisations.
Executives and consumers are particularly National-level action is needed to provide the
concerned about the risks posed by inadequate required skills for people of all demographics to
security that enable both micro-crimes, such effectively participate in the anywhere economy.
as identity theft, and macro-attacks, like
There is also a clear role for governments in
ransomware. Just under half of executives
promoting physical access: 34% of executives
and consumers agreed that cybersecurity
said that increased state support through
was the most critical area for attention and
industrial policy and investment in infrastructure
investment to grow the anywhere economy.
would result in a greater acceptance of the
Embedding digital verification technology,
anywhere economy within society. This is
which offers verified and authenticated proof
also linked to equality. If governments take
of identification, into IT infrastructure was a
visible steps towards directing the anywhere
particularly popular choice among respondents
economy to support marginalised groups,
to reduce security risks. A secure and trustworthy
it could enhance the perception of its
digital foundation is vital for the anywhere
advantages among the broader population.
economy to achieve the rates of acceleration
that executives and consumers predict.

26
https://www.oecd.org/publications/21st-century-readers-a83d84cb-en.htm
27

VI. Conclusion
Just 20 years ago, the prospect that our economy

could be accessible anytime, anywhere was
unimaginable. But digitalisation has ushered
in a new economic era, and now we must
grapple with this new reality. There is much to
be excited about. The anywhere economy has
created a tremendous amount of economic
opportunity. Businesses have new pathways
to prosperity, and consumers are offered
new forms of entertainment, connectivity,
and ways to balance their work and lives.
But this new era also raises new challenges.

We need to understand its impacts so we can
work collectively to ensure that policy measures
are implemented to maximise its benefits and
minimise its costs. Technology will always be
ahead of our capabilities, and the regulatory
response will always lag, making it all the more
important to consider how we effectively manage
the complexities of the anywhere economy.
Its success hinges on whether countries at all
stages of development, communities of all sizes
and people from all demographics can reap the
economic and personal benefits it can offer.

VII. Appendix:
methodology note
Through an extensive literature review and expert Econometric modelling

interviews, Economist Impact identified four
areas that are expected to be the most impacted We constructed econometric models to quantify
by the anywhere economy. Across these areas, the change in the three indicators of productivity
we selected eight indicators that we expect to (as GDP per worker), business R&D expenditure,
be the most significant externalities, including: and leisure and education expenditure associated
with the expansion of the anywhere economy.
• Workplace transformation: The models were built upon historical data
productivity; business research and for the ten countries from 2010 to 2021. For
development (R&D) expenditure. each indicator, we forecasted annual values
from 2022 to 2030 for the ten countries.
• Labour force and talent pool: female
labour force participation; labour Based on desk research and data availability,
force participation of older adults. two main input variables were selected to be
proxies of the anywhere economy: exports of
• Development equality: rural employment; digitally deliverable services and the number
low-income households. of remote workers. Where necessary, country
• Trade and economic development: GDP and time-fixed effects or controls were included
growth; leisure and education expenditure. to account for differences between countries
and the effects of the covid-19 pandemic.
We quantified these impacts at the macro level
from 2022-30 for the ten countries included in The data on exports of digitally deliverable
this programme (Australia and Japan in Asia- services comes from the UN Conference on
Pacific; France, Germany, Ireland and the UK Trade and Development and is an aggregation
in Europe; Mexico and Brazil in Latin America; of potentially ICT-enabled services,
and Canada and the US in North America). The including insurance and pension services,
estimates were conducted through the following financial services, charges for the use of
two approaches, depending on data availability. intellectual property, telecoms, computer and
information services, other business services,
and audiovisual and related services.

Our forecast was based on a ‘what if’ scenario: Survey-based projection

what if exports of digitally deliverable
services would double as a percentage of For the remaining indicators, we projected
GDP by 2030, as compared with the annual the impact of the anywhere economy
average percentage of GDP for 2010-21, through 2030 by leveraging results from
as the anywhere economy expands? the consumer survey conducted for this
programme. This approach was selected
Data on remote workers were gathered from mainly due to the lack of quality historical data
official national statistics from each country and essential for estimating statistically significant
academic literature. There are inconsistencies in relationships between relevant variables.
how ‘remote worker’ is defined by these various
sources; however, in general, remote workers are Our consumer survey gauged respondents’
considered as those who work primarily from perceptions about the impact of the anywhere
home (all or most of the time). Additionally, due economy on access to job opportunities and
to inconsistent data on remote workers from income inequality based on an individual’s gender,
before the covid-19 pandemic, generally constant age and location (eg, urban or rural). We used
percentages of remote workers were assumed these results in conjunction with historical and
to estimate missing data where necessary. forecast data from the International Labour
Similar to the other proxy, our forecast was Organization, The Economist Intelligence Unit
based on a ‘what if’ scenario: what if the ratio and the UN Population Prospects to assess
of remote workers to total employment would the impact of the anywhere economy on the
stay constant at its 2021 level for 2022-30? The labour force participation rate of women
underlying assumption here is that the 2021 and older adults, rural employment and the
level represents the maximum extent of remote distribution of low-income households.
work potential over the forecast period. In addition, we quantified a potential increase
The key limitation of our model is the need to in GDP stemming from the expansion of the
use proxy variables for the anywhere economy anywhere economy based on our estimates of
due to the novelty of this concept. While we its impact on productivity (GDP per worker) and
believe that our two main input variables are growth of the female and older adults’ workforce.
good proxies given data availability, they are not
a perfect measure of the anywhere economy.
Therefore, this ‘what if’ exercise is more to
illustrate the potential scale by using our best
approximate quantification of the growth of
the anywhere economy. In addition, the models
cannot establish causality between the variables,
so our forecasts rely on the historical relationship
between variables to predict future values.
While the growth of the anywhere economy is
associated with positive or negative changes
in each indicator, we cannot with certainty
say that it is the cause of these changes.

While every effort has been taken to verify the accuracy of this information,
Economist Impact cannot accept any responsibility or liability for
reliance by any person on this report or any of the information, opinions
or conclusions set out in this report. The findings and views expressed
in the report do not necessarily reflect the views of the sponsor.

LONDON GENEVA
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London WC2N 6HT Switzerland
United Kingdom Tel: (41) 22 566 2470
Tel: (44.20) 7576 8000 Fax: (41) 22 346 93 47
Fax: (44.20) 7576 8500 Email: [email protected]
Email: [email protected]
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750 Third Avenue Office 1301a
5th Floor Aurora Tower
New York, NY 10017 Dubai Media City
United States Dubai
Tel: (1.212) 554 0600 Tel: (971) 4 433 4202
Fax: (1.212) 586 1181/2 Fax: (971) 4 438 0224
Email: [email protected] Email: [email protected]
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12 Taikoo Wan Road #23-01 Manulife Tower
Taikoo Shing Singapore
Hong Kong 048424
Tel: (852) 2585 3888 Tel: (65) 6534 5177
Fax: (852) 2802 7638 Fax: (65) 6534 5077
Email: [email protected] Email: [email protected]

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Unlocking the

10 Economic competitiveness and prosperity

27 Appendix: methodology note

© The Economist Group 2023

About the research and

© The Economist Group 2023

Claire Hastwell, senior content marketing NWC Design—designer

Dr Greg Wright, Fellow, lead of the Workforce

© The Economist Group 2023

Beneath the surface a recovery is already taking shape, as forward-looking companies

To be sure, we face challenges. In this tech-driven economy, benefits accrue

© The Economist Group 2023

© The Economist Group 2023

© The Economist Group 2023

Economist Impact interview

Economist Impact interview

© The Economist Group 2023

Limitations of the anywhere economy

© The Economist Group 2023

II. Economic competitiveness

With the advent of the anywhere economy, A. Boosting productivity

According to Economist Impact’s According to Economist Impact estimates,

See for example: https://globalworkplaceanalytics.com/cut-oil

© The Economist Group 2023

120,000 The US 35,000

According to Economist Impact estimates, as the anywhere economy expands, business

B. Expanding the talent pool

© The Economist Group 2023

0% 10% 20% 30% 40% 50% 60%

Brazil 52% 7% 59%

Canada 59% 4% 63%

France 51% 5% 55%

Germany 55% 4% 59%

Ireland 58% 4% 62%

Japan 54% 4% 58%

Mexico 45% 8% 53%

The UK 57% 4% 61%

The US 55% 4% 59%

© The Economist Group 2023

0% 5% 10% 15% 20% 25% 30%

Australia 15% 4% 19%

Brazil 14% 6% 20%

Canada 13% 4% 17%

Ireland 14% 4% 18%

Japan 25% 4% 29%

Mexico 28% 5% 33%

The UK 12% 5% 17%

The US 19% 4% 23%

© The Economist Group 2023

© The Economist Group 2023

Participation in the anywhere economy relies on

The issue of access is not limited to emerging

© The Economist Group 2023

A. Distribution of development between countries

Dr Dutta of the University of

Economist Impact interview

© The Economist Group 2023

B. Distribution of development within countries

© The Economist Group 2023

How does the anywhere economy change where people live?

© The Economist Group 2023

C. Diversity, equity and inclusion

Percentage of respondents who agree with anywhere economy's impact

0% 10% 20% 30% 40% 50% 60% 70% 80%