Dubai – (Masaader News)
The Fletcher School at Tufts University in partnership with Mastercard, a leading technology company in the global payments industry, today unveiled the Digital Evolution Index 2017. This comprehensive research tracks the progress countries have made in developing their digital economies and integrating connectivity into the lives of billions.
The research identifies the United Arab Emirates along with Singapore, the United Kingdom, New Zealand, Estonia, Hong Kong and Japan as digital elites characterized by high levels of digital development and a fast rate of digital evolution. With momentum and innovation on their side, these ‘Stand Out’ markets exemplify the sweet spot of advancement and future growth.
With nearly half of the world’s population online, the research maps the development of 60 countries, demonstrating their competitiveness and market potential for further digital economic growth. The Index measures four key drivers and 170 unique indicators to chart each country’s respective course including supply (or internet access and infrastructure), consumer demand for digital technologies, institutional environment (government policies/laws and resources) and innovation (investments into R&D and digital start-ups etc.).
The Findings:
Combining the pace and state of digital advancement, the research puts the UAE in the ‘Stand Out’ category with the country demonstrating high levels of digital development while continuing to lead in innovation and new growth.
- The UAE government is at the heart of the country’s high scores owing to Smart Dubai’s plan to transform services and society. The national government’s UAE Vision 2021 is a national innovation strategy targeting core sectors – these being 3D printing, nanotechnology, semiconductors, artificial intelligence, software, and smart cities.
- The power of digital technologies to make life better is also illustrated by the UAE, which ranks as the happiest Arab nation, according the World Happiness Report, at 21 out of 155 counties, ahead of France, Spain and Singapore. This sort of metric is taken seriously: in February, the UAE hosted the World Happiness meeting, part of the World Government Summit.
“We all know technology can do more to improve economies and make our lives better, but growth is only achievable if everyone has confidence in the developing ecosystem,” said Ajay Bhalla, president, global enterprise risk & security, Mastercard. “In our pursuit of a truly connected world, trust and security are critical to successful digital development.”
Implications: How Countries Can Win
More details and country-specific case studies can be found in the summary insights overview including:
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- Use Public Policy as Key to the Success of the Digital Economy: This has implications ranging from Brexit negotiations to how India nudges its society towards a “less cash” future to the U.S.- China competition for economic dominance.
- Identify What Drives Digital Momentum: Developed and developing economies ought to emphasize different ways to spur growth: innovation and institutions, respectively.
- Jumpstart Small Country Growth by Involving Government: They can grow quickly as early adopters by assembling the right ecosystems.
- Reinvent the Digital Stalwarts: The most digitally advanced countries can use their scale and existing connections in the world to reinvent themselves.
- Play Digital Catch-Up by Closing the Mobile Internet Gap: The least digitally advanced countries must prioritize increasing internet access via mobile phones.
- Work Harder to Earn Users’ Trust: As nations become more digitally evolved and momentum slows, technology providers and policymakers may need to prioritize building trust to continue growth.
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