Page 56 - UDYAMA FINAL final for web

Sri Lanka:

Digital Transformation Laggard

J.A.R.C. Sandaruwani
Lecturer
Department of Tourism Management
Faculty of Management Studies
Sabaragamuwa University of Sri Lanka
Figure 1: Global Top 100 companies by market capitalization
Source: Bloomberg with PwC analysis, July 2020

In 2019, among the top ten largest
companies in the world by market
value, it represents almost seven
(70 percentage) as digital compa-
nies (Figure 01).

Global top 100 largest companies
have got a strong bounce back
from the COVID 19 downturn
seen in March 2020. Having dec-
reased by 15% ($3,905bn) from
December 2019 to March 2020, Figure 2: Market Capitalization Figure 3: Change in the Market
the market capitalization of the of Global Top 100 Capitalization of June 2020 Glo-
Global Top 100 as at June 2020 bal Top 100
was 1% ($335bn) behind Decem- Source: PwC | Global Top 100 companies by market capitalization,
ber 2019. In general, the world’s July 2020
current largest companies have
seen a stronger market capitaliza- and eCommerce (Consumer Ser- nomy. The expectation is that the
tion recovery than the wider mar- vices) sectors seen as benefiting momentum for online retailers
ket indices, reflecting the relative from the digital acceleration in a and migration to the cloud, in
concentration of the Technology post-COVID-19 new normal eco- general, will continue to grow.

54 January 2021