Singapore Ranked Second In IT Readiness By World Economic Forum

Singapore Ranked Second By World Economic Forum In IT Readiness

Top News
April 11, 2013

The Nordic countries and the Asian Tigers dominate a 2013 World Economic Forum ranking of IT-ready economies.

AsianScientist (Apr. 11, 2013) – The Nordic countries and the Asian Tigers dominate a 2013 World Economic Forum ranking of economies thanks to their business-friendly approach, highly skilled populations and investments in infrastructure, among other strengths.

The Global Information Technology Report 2013 Network Readiness IndexFinland and Sweden switched places, coming in first and third, respectively, while Singapore came in second in the 2013 Networked Readiness Index (NRI), which measures the capacity of 144 economies to leverage information and communication technologies (ICTs) for growth and well-being.

The Forum’s Global Information Technology Report also shows that digitization has a measurable effect on economic growth and job creation. In emerging markets, a digital boost could help lift over half a billion people out of poverty over the next decade, the report says.

“Digitization created six million jobs and added US$193 billion to the global economy in 2011. Although in aggregate positive, the impact of digitization is not uniform across sectors and economies – it creates and destroys jobs,” said Bahjat El-Darwiche, Partner, Booz & Company and sponsor of the Report.

“Policymakers wishing to accentuate the positive impact of digitization need to understand these different effects if they wish to act as digital market makers in their economies,” he added.

Among the top ten, the United Kingdom posts the biggest rank improvement to 7th place, above the United States, which slips to 9th place despite a performance essentially unchanged from the previous year.

The BRICS’ economies, and notably China, continue to lag behind in the rankings. Down seven, China ranks 58th, followed by Brazil (60th), India (68th), and South Africa (70th). The sustained rapid economic growth of past years in some of these countries may be in jeopardy unless the right investments are made in ICT, skills and innovation, the report says.

The report can be found at: The Global Information Technology Report 2013.

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Source: World Economic Forum; Photo: AndyLeo@Photography/Flickr/CC.
Disclaimer: This article does not necessarily reflect the views of AsianScientist or its staff.

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