The Global ICT Regulatory Outlook (GIRO) series lays out a broad canvas of how regulation and digital markets are interacting - and advocates for collaborative regulatory reform in delivering meaningful connectivity and inclusive digital markets. The report is both dense, offering deep-dive detail, and high-level - pointing up the headline trends, challenges and opportunities for regulators as ICT broadens out to touch all civic, professional and personal aspects of our lives within the phenomenon we call the digital global economy. In this year's 2020 edition, we share unique, focused research and offer both evidence and practical advice to support regulators embarked on their journey to fifth generation collaborative regulation. The Benchmark of Fifth Generation Collaborative Regulation (G5 Benchmark), based on GSR19 Best Practice Guidelines together with the ICT Regulatory Tracker, serves as a compass for regulators on their journey of digital transformation, helping establish roadmaps towards regulatory excellence and a thriving digital economy. Importantly, this year we revisit golden rules for inclusive digital markets based on a wealth of ITU data from 193 countries over more than a decade. Our research and analysis confirm that good regulation makes a difference - and provides the key to unlocking meaningful, inclusive connectivity across countries at different levels of development and national income. Working with those updated golden rules, we offer a regulatory recipe for accelerated take-up of fixed and mobile broadband markets.