Singapore 4th in global digital competitiveness, top in Asia

Author: Kelly Ng

Singapore has moved up one spot to place fourth in the latest edition of the IMD World Digital Competitiveness Ranking, after Denmark, the United States and Sweden.

The Republic’s progress was driven by an enhancement in tertiary education (improvement in pupil-teacher ratio), an increase in its share of employees working in research and development (R&D), and improvements in regulation conducive to overseas talent attraction and scientific research, said the World Competitiveness Centre (WCC), which published the rankings on Wednesday.

WCC is a research centre at the International Institute for Management Development, an independent academic institution based in Singapore and Lausanne, Switzerland.

The annual ranking looked at 63 global economies, and how equipped they are at adopting new digital technologies in government practices, business models and society. It assessed each country on 54 criteria and polled mid and senior-level executives.

Singapore ranked first in the “technology” factor and retained its top spot in the “regulatory framework” sub-factor, but had a less remarkable showing in the “future readiness” factor, placing 10th. WCC defines future-readiness as “the level of country preparedness to exploit digital transformation”.

In particular, Singaporeans’ perceptions of the impact of immigration policies, which fall under the “regulatory framework” sub-factor, have improved this year.

South Korea moved up four places to rank eighth, making it the second Asian country on the leaderboard.

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