Australia tops international tech-readiness ranking
20 Aug 2018
The Economist Intelligence Unit (EIU) has ranked Australia, Singapore and Sweden as the economies most prepared for technological change, and the most attractive places for tech companies to invest in 2018–22.
Australia’s rise to equal–first place in the EIU’s Preparing for disruption: Technological Readiness Ranking, with a score of 9.7188, reflects a strong progression from its previous five-year ranking (2013–17), which saw Finland in first place, Sweden second and Australia third, with an average score of 9.1563 (see table below).
The EIU’s Technological Readiness Ranking looks at 82 nations and the future-orientedness of their business environments. The 2018 index assesses eight indicators across three categories:
- Access to the internet, which looks at internet usage and mobile phone subscriptions
- Digital economy infrastructure, looking at e-commerce, e-government and cyber security
- Openness to innovation, exploring international patents, research and development spending, and research infrastructure.
One of the EIU’s findings was that government investment will drive countries’ broad based improvement in tech readiness over the next five years. Spending on e government, cyber security and a robust e commerce environment will increasingly be viewed as a policy priority.
Online government was highlighted as a significant strength of Australia, which came in second behind the UK in the Online Service Index component of the UN's E-Government Development Index, from which the EIU derives some of its rankings.
The EIU’s 2018 ranking also included cyber security preparedness, with measurements based on the International Telecommunication Union Global Cyber Security Index. Australia, US, Canada and Singapore were in the top scoring economies on this metric.
Technological Readiness Ranking