Gulf country is named in new report as 'stand out' market for developing its digital economy
The UAE has been named as one of the world's best countries for developing its digital economies and integrating connectivity into the lives of its residents.
The Fletcher School at Tufts University in partnership with Mastercard hailed the UAE's achievements in the Digital Evolution Index 2017.
The research identified the UAE along with Singapore, the United Kingdom, New Zealand, Estonia, Hong Kong and Japan as digital elites characterised by high levels of digital development and a fast rate of digital evolution.
With momentum and innovation on their side, these ‘Stand Out’ markets exemplify the sweet spot of advancement and future growth, the report said.
It added that the UAE government is at the heart of the country’s high scores owing to Smart Dubai’s plan to transform services and society.
The government’s UAE Vision 2021 is a national innovation strategy targeting core sectors – these being 3D printing, nanotechnology, semiconductors, artificial intelligence, software, and smart cities.
The report also noted that the power of digital technologies to make life better is also illustrated by the UAE, which ranks as the happiest Arab nation, according the World Happiness Report.
Combining the pace and state of digital advancement, the research puts the UAE in the ‘Stand Out’ category with the country demonstrating high levels of digital development while continuing to lead in innovation and new growth.
With nearly half of the world’s population online, the research maps the development of 60 countries, demonstrating their competitiveness and market potential for further digital economic growth.
The Index measures four key drivers and 170 unique indicators to chart each country’s respective course including internet access and infrastructure, consumer demand for digital technologies, institutional environment and innovation.
“We all know technology can do more to improve economies and make our lives better, but growth is only achievable if everyone has confidence in the developing ecosystem,” said Ajay Bhalla, president, global enterprise risk & security, Mastercard. “In our pursuit of a truly connected world, trust and security are critical to successful digital development.”