Australia has slipped to 18th position in the World Economic Forum’s Networked Readiness Index, with Government procurement, efficiency and success all contributing to the overall decline.

The report documents an ever widening digital divide, despite the efforts over the past decade to deliver significantly improved ICT infrastructure in developing economies.

Published under the theme Growth and Jobs in a Hyperconnected World, Finland, Singapore and Sweden all took out the top three spots of the index.

The report covered 144 of the world’s economies, using four tools to measure the preparedness of an economy to fully leverage ICT:

1)     ICT infrastructure, cost of access and the presence of the necessary skills to ensure an optimal use.

  1. Uptake and use of ICT among governments, business and individuals.
  2. Business and innovation environment, and the political and regulatory framework.
  3. Economic and social impacts accruing from ICT.

“This analysis shows how matching investments in ICT with investment in skills and innovation can help economies cross a ‘magic threshold’, beyond which return on investment increases significantly,” said Bruno Lanvin, Executive Director, e-Lab, INSEAD and co-editor of the report. “Individual countries need to identify what separates them from reaching that threshold if they have not reached it yet in order to fulfil long-term growth, competitiveness and innovation targets” he added.

ICT’s role in supporting economic growth and the creation of high-quality jobs has never come under such scrutiny. Despite initial concerns that ICT would hasten the deployment of resources towards developing countries, the benefits of ICT are now widely recognized as an important way for companies and economies to optimize productivity, free up resources and boost innovation and job creation” said Beñat Bilbao-Osorio, Senior Economist, Global Competitiveness and Benchmarking Network, World Economic Forum, and co-editor of the report.

 

 

The full report can be found here