IMD World Digital Competitiveness ranking 2019

The ranking measures the readiness and capacity of 63 economies to adopt digital technologies. It gives its ranking based on the digital exploration skills of the economies for economic transformation in governance, business and society.

Rankings

US topped the list followed by Singapore in the second place. Sweden was ranked third followed by Denmark and Switzerland in the 4^th and 5^th places respectively. The other top 10 digitally most competitive economies include Netherlands (6th), Finland (7th), Hong Kong, Norway and Republic of Korea.

The largest jump was seen in China. China moved to 22^nd position from its 30^th position in 2018.

IMD World Competitiveness

The yearbook is published by the Swiss based International Institute for Management Development. The year book is being published since 1989. However, the ranking was begun in 2017.

India

India advanced 4 places from 48^th to the 44^th. The report mentions the following reasons for the improvement

• Talent Sub factor
• Training and Education
• E – Participation

The ranking says India exceeds in technological factors, telecommunication, IT and media stock market capitalization. However, India still has to focus on wireless broadband, internet users, etc.

The largest improvements were experienced by Asian countries like India, China, Korea and Indonesia.

How was the ranking done?

The World Digital Competitiveness Center prepares the ranking based on three factors namely

• Knowledge – The capacity of the economy to understand and learn new technologies
• Competence – How well an economy competes with other countries to develop new digital innovations
• Future readiness – the preparedness of the economy for the coming developments.

Month: Current Affairs - September, 2019