Russia ranked 40th among 63 countries in the International Institute for Management Development (IMD) World Digital Competitiveness Ranking 2018, the U.S.-Russia Business Council (USRBC) reported, citing IMD data.
Although Russia rose two places compared to last year’s ranking thanks to “marked progress in the adoption of digital technologies,” it was rated below its Eurasian Economic Union partner Kazakhstan (38th place).
The United States tops this year’s ranking, followed by Singapore, Sweden, Denmark, and Switzerland.
The ranking assesses the extent to which nations adopt digital technologies, leading to transformation in government, business and society in general. Countries are evaluated based on three key factors: knowledge (human talent, scientific knowledge and investment in education); technology (quality of regulation, access to capital, investment risks and infrastructure development); and “readiness for the future” (businesses’ adaptability and dynamism and the level of IT integration).
Russia’s performance on knowledge was the strongest (24th place in the ranking) due to high quality of education. Its ranking on technology was 43rd with insufficient access to capital cited as the main drawback. Russia ranked 51st in terms of readiness for the future because of a lack of business dynamism.