1-12-2023 (SINGAPORE) In a global ranking of countries’ digital competitiveness, Singapore has clinched the third spot, marking a significant ascent from its fifth position in 2021 during the height of the Covid-19 pandemic.
The nation’s impressive rise in the rankings is attributed to its robust performance in policymaking, training, and research, among other factors, as outlined in the World Digital Competitiveness report’s seventh edition published on November 30. Compiled by the World Competitiveness Centre (WCC), a research hub at the International Institute for Management Development based in Singapore and Switzerland, the report compared 64 economies based on their digitalization approaches.
The evaluation of each country’s performance encompasses three key fields, considering a range of indicators. In the realm of knowledge, factors such as international experience, mathematical and tech skills are scrutinized. Technological prowess is measured through investments and internet infrastructure, while future readiness considers digital adoption and cybersecurity, among other variables.
Singapore secured its place just below the United States, which claimed the top spot, and the Netherlands, positioned at number two. Denmark, which led the list in 2022, slipped to fourth place.
The report underscores Singapore’s improved ranking, attributing it to the nation’s world-leading country credit rating and impressive internet bandwidth speed scores, securing its top position in the technology segment. Notably, Singapore excelled in “enforcing contracts,” indicating institutional strength and providing stability for social, economic, and political outcomes.
The city-state also boasts high wireless broadband adoption and tablet ownership rates on a global scale. Additionally, Singapore performed admirably in research and higher education achievements, particularly in mathematics.
However, areas for improvement are identified, including a thin pipeline of senior managers with significant international experience, which could have boosted the country’s standing in the 2023 rankings. The report also highlights the lack of female researchers and inadequate privacy protection laws as areas requiring attention.
Singapore’s dip to fifth place in 2021 is attributed to decreased investment and digital integration during the economic challenges of the pandemic. Dr Jose Caballero, WCC senior economist, notes that Singapore’s return to the top three is driven by continuous robust performance in technology and a consistent improvement in the knowledge factor.
The WCC’s periodic rankings aim to provide nations with insights into approaches to digital transformation, particularly in the era of artificial intelligence (AI). While the ranking doesn’t measure specific AI indicators, Professor Arturo Bris, WCC director, emphasizes that AI operates in the background of many assessed indicators. He underscores the symbiotic relationship between AI and cybersecurity, emphasizing the need for a deliberate and global approach in navigating these crucial aspects of digital competitiveness.
