Bhaskar Chakravorti in Harvard Business Review – “Brexit Could Deepen Europe’s Digital Recession”
Brexit Could Deepen Europe’s Digital Recession
Brexit, as the British referendum to exit the EU is widely called, has caused turmoil in politics and stocks and head-shaking among the UK’s partners. All of this, of course, comes on the heels of many overlapping crises afflicting Europe.
In addition to the ones regularly in the news, I have argued earlier in HBR that there is a fundamental crisis unfolding over the longer term: the continent is suffering from a “digital recession” – a loss of momentum in their evolution toward a digital economy. Of the 50 countries we studied using a Digital Evolution Index we created, 15 European countries have been losing digital momentum since 2008 and EU countries occupy the bottom 9 spots in our ranking of digital momentum .
With the UK at 34 out of 50, it is worth asking: what is the impact of the Brexit referendum on this already dismal state of affairs?
Read the full op-ed from Dean Chakravorti in Harvard Business Review