Singapore’s digital economy expanded to S$128.1 billion (US$98.97 billion) in 2024, making up 18.6% of the country’s GDP, according to the Infocomm Media Development Authority (IMDA).

Non-tech sectors contributed most to this growth, with finance, wholesale trade, and manufacturing as key drivers.

IMDA reported that 95% of SMEs have adopted at least one digital tool, and AI adoption among SMEs rose from 4.2% in 2023 to 14.5% in 2024.

AI adoption also increased among larger firms, reaching 62.5% in 2024.

A recent IMDA survey found 74% of workers use AI tools regularly, and 85% of these users said AI helped them work faster or better.

Singapore’s tech workforce expanded to 214,000 in 2024, with roles in AI, data, and cybersecurity seeing strong demand.

Median monthly wages for tech workers reached S$7,950 (US$6,142), higher than the national median of S$4,860 (US$3,754).

🔗 Source: Infocomm Media Development Authority

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