“This research helps us to uncover key insights and build our understanding of what it means for a country to be digitally ready and the positive impact the digital economy can provide. It also outlines possible opportunities to advance readiness.”
The study examined “seven holistic components” to arrive at its rankings: basic needs (such as life expectancy and access to electricity), business and government investment, ease of doing business, human capital, startup environment, technology adoption and technology infrastructure. The tech firm used data from the International Monetary Fund, International Telecommunications Union, Netcraft, World Bank, World Economic Forum and World Justice Project, among other sources.
According to Cisco’s press release:
“It may be intuitive that technology infrastructure and adoption are strong indicators of a country’s digital readiness, but our research shows that technology alone is not the answer. Developing skills, ensuring basic human needs are met, creating a business friendly and start-up environment, and making private and public investments in innovation and technology will aid countries in their digital future.”
The rest of the top ten were the Netherlands, Sweden, South Korea, Iceland and 10th ranked Norway.