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Singapore comes out on top in technological readiness

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According to The Economist Intelligence Unit’s global technological rankings for 2018-2022, Singapore ranks as one of the top Asian location for technological readiness. The country climbs up two spots from its ranking at number three in 2017. It shares its number one spot with Australia and Sweden, the latter holding the top spot for the last four years.

Other Asian countries rank as following:

country ranking 2

 

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The report examines several indicators in three categories when considering each country’s technological preparedness. Some of these include:

Access to internet

In this category, the study looked at the level of internet usage and the number of mobile-phone subscriptions per head. There is a strong correlation between the level of internet usage and a country’s overall technological readiness score.

For internet usage, there is a strong growth outlook across the board to develop and implement broadband infrastructure strategies.

However, there are expectations of especially strong improvements in scores for internet usage in India, the Philippines and Malaysia.

In another indicator, Hong Kong is the highest-ranking country in terms of average number of mobile phone subscriptions per head with a 2.3 subscriptions per person.

Digital economy infrastructure

For the indicator of e-commerce in this category, the index explores access to the internet, the availability of secure servers, the ease and security of online payments, and the reliability of the postal system — essential to deliver purchases to customers.

Japan sits as the only Asian country in the top ten e-commerce business environments sitting at number six.

However, among the top ten developing countries that are catching up on the factors of e-commerce are Malaysia at number one, Thailand at number three and China at number four.

digital economy infrastructure e-commerce 2

While for the indicator of e-government, Singapore ranks as the second-best Asian country in the Online Service index with Australia ranking at number one.

digital e government 2

This was put together following a major study to assess the useability of e‑service and e‑participation websites run by governments around the world.

Cyber security preparedness

This consists of an assessment of a country’s legal, technical and organisational capacities, along with measures of public awareness and intra-state co-operation.

Singapore is among the top-three in the Asian region in this metric ranking at number two, just behind Taiwan. Neighbour Malaysia is also in the top at number three.

cyber-security 2

 

“Technological change is inescapable, and how well prepared governments, businesses and individuals are for disruption is increasingly important,” said Emily Mansfield, country forecast director at The Economist Intelligence Unit said in Singapore Business Review.

The Economist Intelligence Unit’s Country Forecast service provided comprehensive medium and long-term forecasts for 82 of the world’s largest economies.

Lead Photo / iStock
Graphs / The Economist Intelligence Unit



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