You won't believe how using licensed software can boost Singapore economy

We are talking US$240m here.

According to a new study from BSA and INSEAD, increasing the use of properly licensed software would have a greater impact on the economy in Singapore than allowing similar growth in the use of pirated software.

A 1 percent increase in use of licensed software would generate an estimated US$312 million in national production, compared to US$72 million from a similar increase in pirated software — meaning properly licensed software would deliver US$240 million in additional economic value.

The study also finds that each additional dollar invested in properly licensed software has an estimated return on investment (ROI) of US$60. This compares to a US$28 return from each additional dollar worth of pirated software put into use.

It was also found out that increasing the amount of licensed software used in the Asia Pacific by 1 percent would add US$18.7 billion to the regional economy, compared to US$6 billion from pirated software, meaning a US$12.7 billion difference.

Increasing licensed software use globally by 1 percent would inject an estimated US$73 billion into the world economy, compared to US$20 billion from pirated software — a difference of US$53 billion.

Every economy included in the study saw greater economic returns from properly licensed software than from pirated software.

On a dollar-for-dollar basis, the return on investment from using properly licensed software is greatest in developing economies — US$437 in extra GDP, on average. Still, economies across all income levels benefit: each additional dollar invested in licensed software has an average ROI of US$117 in high-income economies and US$140 in middle-income economies.