Singapore – December 7, 2020 – The Fletcher College at Tufts College, in partnership with Mastercard, as we speak unveiled the Digital Intelligence Index, which charts the progress economies have made in advancing their digitalization, fostering belief and integrating connectivity into the lives of billions.
Constructing upon earlier editions in 2014 and 2017, this yr’s index paints an image of world digital growth, sheds perception on key components driving change and momentum, and unpacks what this implies for economies going through the challenges of a world pandemic and post-pandemic future.
Notably throughout Asia Pacific, Singapore, Hong Kong SAR, South Korea and Chinese language Taipei are amongst probably the most digitally dynamic economies. South Korea and Chinese language Taipei have considerably outperformed the OECD development price in Q2 2020 amidst the worldwide lockdown. These economies characteristic excessive ranges of accessible expertise, lively R&D collaboration between trade and academia, and a powerful document of making and bringing digital merchandise into the mainstream.
Bhaskar Chakravorti, Dean of International Enterprise at Fletcher, mentioned, “The pandemic may be the purest test of the world’s progress towards digitalization. We have a clearer view on how dynamic digital economies can contribute to economic resiliency during a time of unparalleled global turmoil and can be positioned for recovery and change.”
Different key findings embody:
- With almost two thirds of the world’s inhabitants on-line as we speak, we’re coming into an ‘after access’ part, the place entry alone is just not sufficient. Features akin to the standard of entry, efficient use of digital applied sciences, accountable establishments, sturdy knowledge governance insurance policies and fostering belief are larger components in figuring out digital competitiveness and sustainability.
- Younger folks in rising economies are demonstrating excessive ranges of digital engagement, a vivid spot for governments trying to broaden digitalization of their economies.
Ajay Bhalla, president, Cyber & Intelligence, Mastercard mentioned, “Never before has there been such an acute need to understand the factors that drive digitalization and digital trust. With that knowledge, businesses and governments can work together to help all 7.6 billion people around the world benefit from the vast opportunities a digitally advanced economy can bring. Whilst much remains uncertain today, it is clear that digital success will be a key building block in our collective recovery.”
A International Outlook on Digital Evolution and Belief
This yr’s index seems at two parts: Digital Evolution and Digital Belief. Digital Evolution captures an financial system’s historic momentum from the bodily previous to the digital current. Digital Belief is the bridge that connects its journey from the digital current to an clever and inclusive digital future.
Mapping 95% of the world’s on-line inhabitants and drawing on 12 years of information, the Digital Evolution scorecard measures 160 indicators in 90 economies throughout 4 key pillars: institutional setting, demand situations, provide situations, and the capability for innovation and alter. These phase into 4 classes:
- Stand Out economies in Asia Pacific are Singapore, Hong Kong SAR, South Korea, Chinese language Taipei, and Malaysia. They’re on this class alongside the USA, Germany, Israel, and others as a result of they’re each extremely digitally superior and exhibit excessive momentum. They’re leaders in driving innovation, constructing on their present benefits in environment friendly and efficient methods.
- Stall Out economies in Asia Pacific are Australia, New Zealand and Japan. These are famous as mature digital economies with a excessive state of digital adoption regardless of slowing digital momentum. They have an inclination to commerce off velocity for sustainability and are usually invested in increasing digital inclusion and constructing sturdy establishments.
- Break Out economies in Asia Pacific embody mainland China, India, Vietnam, Indonesia, and Thailand. These are evolving quickly with momentum and vital headroom for development that’s extremely engaging to traders.
- Watch Out economies – such because the Philippines – have quite a lot of infrastructure gaps. Regardless of this, younger persons are displaying enthusiasm for a digital future with elevated use of social media and cellular funds.
The Digital Belief scorecard measures 198 indicators in 42 of the index’s economies throughout 4 key pillars: conduct, attitudes, setting, and expertise.
- Economies akin to Singapore, Hong Kong SAR, Chinese language Taipei and South Korea present residents with a close to seamless expertise, delivering the holy grail of superior infrastructure, broad entry and unparalleled interplay. This expertise can also be matched by excessive ranges of engagement, providing these economies a transparent benefit in a ‘beyond access’ future.
- Economies akin to mainland China, Indonesia and Vietnam have more and more favorable attitudes about their digital future, buoyed by quickly increasing digital adoption and alternative.
- Total, digitally superior economies with increased ranges of socio-economic fairness expressed extra optimistic attitudes in direction of digital applied sciences, whereas fast-moving Break Outs are extra optimistic than their Watch Out friends.
“COVID-19 has superior digitalization throughout Asia Pacific by at the very least 5 years in as many months, solely serving to additional speed up the event of the digital ecosystems throughout the area. With rising ranges of shopper belief and engagement and rising digitization within the small enterprise phase, all deeply supported by proactive enabling actions from governments, the alternatives forward for the area’s digital financial system are immense. With Asia Pacific poised to get well rapidly from the pandemic, the sturdy efficiency within the two parts of Digital Evolution and Belief will solely serve to additional assist Asia’s management in digital.” Matthew Driver, Govt Vice President, Providers, Asia Pacific, Mastercard.
The hyperlink to the total report and methodology might be discovered right here