We are European companies that operate across different sectors of the economy with significant operations within and beyond the borders of the European Union (EU). We welcome the European Commission’s proposal for a General Data Protection Regulation (GDPR), which contains important and helpful suggestions for reforming Europe’s current data protection framework. While there are differences in our everyday businesses, we are united by our shared concerns regarding the GDPR. Several issues of critical importance must be addressed to keep Europe and its industries growing.
Boston Consulting Group estimated that by 2016 the Digital economy in the G-20 economies will be worth $ 4.2 trillion (up from $ 2.3 trillion in 2010). To put this phenomenon into perspective: if the digital economy was a country its GDP would rank 5th globally behind the United States, China, Japan and India, but ahead of Germany.
According to Oxford Economics, ICT generates bigger growth returns for productivity than virtually all other forms of capital investment. Moreover, the OECD has found that the probability of innovation increases with higher levels of ICT use, both for manufacturing and service companies and for different types of process innovations.
Sustained digitisation of non-ICT sectors, public administration and society as a whole largely depends on the ability to collect, process and analyse data. Processing is the backbone of the digital economy, the digital society and the foundation for the future knowledge-based economy and innovation society.
European data coalition
Our Coalition is made up of nineteen European companies, from SMEs to Global Multinationals and non-profit organisations operating in a variety of sectors, on national, regional and global scale. With an aggregate turnover (2013) of over € 158 billion and some 752,000 employees worldwide, our footprint allows us to bring growth, progress and jobs to the EU economy.