1、1SEPTEMBER 2024TECHNOLOGY SPENDING:DRIVING GROWTH AND RESILIENCE THROUGH ECONOMIC DOWNTURNSin association with CONTENTSEXECUTIVE SUMMARY.4 Surviving and thriving in the next downturn:The right technology investments pay off.4Key findings.5SECTION 1:Introduction.7Box 1:A unique technology spending da

2、taset.9SECTION 2:Evolution of tech spend.10Tech spend has outpaced GDP and other investments.11Innovative disruption has favored certain types of tech spend more than others.12SECTION 3:Tech spend as a driver of business outcomes.14More than just a strong correlation between tech spend and revenue g

3、rowth in normal times and during downturns.15Tech spend has been important for resilience and recovery.15Box 2:Review of the dynamic panel model used in this study.16Data deep-dive reveals four key takeaways for decision makers.18SECTION 4:Conclusion.22SECTION 5:Areas for further investigation.24App

4、endix 1:Tech spend during recessions.28Appendix 2:Industry-specific analysis.31Appendix 3:About our econometric analysis.37ABOUT OXFORD ECONOMICS.38Table of contents 34 EXECUTIVE SUMMARYSURVIVING AND THRIVING IN THE NEXT DOWNTURN:THE RIGHT TECHNOLOGY INVESTMENTS PAY OFFHow organizations invest in te

5、chnology during economic downturns can be a strong indicator of their performance during hard times and the recoveries that follow.Conventional wisdom holds that cost cutting is an essential way to survive a recession,and while that may hold true in some areas,new research from EY and Oxford Economi

6、cs shows that strategic investments in technology during a downturn may be the leading strategy for surviving a recessionand thriving in a recovery.That does not mean organizations should blindly throw money at technologyas many companies learned during the Covid-19 era,it is possible to overspend e