Singapore, Switzerland, and Denmark Lead in Digital Competitiveness

The 2024 IMD World Digital Competitiveness Ranking (WDCR) reveals that Singapore, Switzerland, and Denmark are the world’s most digitally competitive economies. In contrast, the US has dropped three places, now ranking fourth among the 67 economies evaluated.

Key Findings

The rankings, developed by the IMD World Competitiveness Center (WCC), assess economies based on Knowledge, Technology, and Future Readiness, with criteria such as high-tech patent grants, intellectual property (IP) rights, and e-governance playing pivotal roles.

Top Performers:

1. Singapore: Excels in city management, banking, financial services, and public-private partnerships, bolstered by a strong number of high-tech patent grants.
2. Switzerland: Ranks highly in high-tech exports, cybersecurity, and e-participation.
3. Denmark: Leads in employee training, agile companies, e-government efficiency, and secure internet servers.

Decline of the US:

The US has fallen in rankings due to a perceived decline in globalization attitudes, an increase in entrepreneurial fear of failure, and reduced international experience among managers. However, it remains strong in high-tech patent grants and leads in the number of AI policies passed into law.

Challenges: The Digital Divide and Geopolitical Tensions

The accompanying report, "The Digital Divide: Risks and Opportunities," highlights significant challenges:

• Digital Infrastructure Disparity: Many developing regions lack access to high-speed broadband and modern telecommunications, limiting their participation in the global digital economy.
• Geopolitical Rivalries: Competition between major powers, particularly the US and China, is fragmenting the digital landscape, with trade wars and technology bans influencing global competitiveness.
• Pace of Technological Advancement: Emerging technologies like AI, blockchain, and quantum computing are reshaping industries but risk widening the digital gap for nations unable to adapt swiftly.

Recommendations for Sustained Competitiveness

According to José Caballero, Senior Economist at the WCC:

“An economy’s initial advancement can arise from focusing on specific digital factors, but sustained competitiveness requires balanced and consistent performance across multiple areas.”

WCC Chief Economist Christos Cabolis adds:

“Economies that balance strong governance, technological advancement, and adaptability to emerging trends are likely to lead in digital competitiveness in the years ahead.”

About the IMD World Digital Competitiveness Ranking

The WDCR evaluates economies across three main pillars: Knowledge, Technology, and Future Readiness. These pillars are further divided into nine sub-factors, comprising 59 criteria, including:

• Computer science education
• AI peer-reviewed literature per capita
• Flexibility and adaptability to challenges

The ranking continues to evolve, introducing new indicators to reflect digital governance, business innovation, and societal adaptation.

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Phone: 084 628 3291

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About IMD

For over 75 years, IMD has been a global leader in developing innovative leaders and organisations. With campuses in Lausanne, Singapore, and a hub in Shenzhen, IMD provides world-class executive education and degree programmes, fostering a culture of “Real Learning. Real Impact.”

Learn more at www.imd.org. Follow IMD on LinkedIn, YouTube, Instagram, Facebook, and X.

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US Flounders in Digital Competitiveness Rankings
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