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From bricks to clicks: an assessment of euro area digital investment

Author

Listed:
  • Andersson, Malin
  • Colombo, Sara
  • Jarvis, Valerie
  • Morris, Richard

Abstract

This box provides a first assessment of digital investment trends in the euro area by using proxies derived from annual national accounts and monthly production data. As there is no standardised measurement framework, our definition of digital investment covers investment in buildings and structures in the information and communication sector, investment in ICT equipment and computer software and databases in the business economy, and investment in research and development in the information and communication sector. The proxy shows that there has been a gradual increase in digital investment, likely driven most recently by the surge in global demand for artificial intelligence (AI) technologies and cloud services. Looking ahead, the share of digital investment in overall business investment is expected to continue growing, supported, among other factors, by venture capital, Next Generation EU funding and the EU AI Continent Action Plan. However, survey results point to concerns that insufficient energy supply and overregulation could hamper further growth. JEL Classification: E22, E66, G31

Suggested Citation

  • Andersson, Malin & Colombo, Sara & Jarvis, Valerie & Morris, Richard, 2026. "From bricks to clicks: an assessment of euro area digital investment," Economic Bulletin Boxes, European Central Bank, vol. 2.
    • Handle: RePEc:ecb:ecbbox:2026:0002:5
    Note: 427284
    as

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    Keywords

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    JEL classification:

    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E66 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General Outlook and Conditions
    • G31 - Financial Economics - - Corporate Finance and Governance - - - Capital Budgeting; Fixed Investment and Inventory Studies

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