IMD World Digital Competitiveness

and threats (43 rd ), investment in telecommunications (23 rd ), agility of companies (28 th ), and impact of immi gration laws (46 th ). Korea performs strongly (second) in total expenditure on R&D (percentage of GDP), entrepreneurial fear of failure, enforcing contracts, and internet retailing. It also ranks third in world robot distribution, IT & media stock market capitalization, high-tech patent grants, and e-gov ernment. Conversely, Korea ranks 44 th in the availability of venture capital, 47 th in the country’s attractiveness for foreign highly skilled personnel, 48 th in availability of digital/technological skills, 50 th in effectiveness of banking and financial services, 51 st in availability of senior managers with international experience, 52 nd in the support that the legal environment provides to the development and application of technology, and 55 th in female researchers. Sweden drops to seventh position (from third) in the overall ranking. Sweden declines in all factors, ranking fifth in knowledge (from second), eighth in future read iness (from fourth), and 11th in technology (from fifth). At the subfactor level, it declines in all except training and education, in which Sweden remains in fourth posi tion. Among the more significant drops are in the talent (13th), technological framework (17 th ), and business agility (17 th ) subfactors. Sweden, however, remains in strong positions in the scientific concentration (fourth), regulatory framework (seventh), capital (eighth), and IT integration (eighth) subfactors. Sweden’s sluggish performance is largely due to signif icant declines in several indicators including total R&D personnel per capita (13th), knowledge transfer (ninth), the availability of digital/technological skills (10 th ), and internet bandwidth speed (20 th ). Other aspects of the country’s deficient performance are in the attractiveness of the country for foreign highly skilled personnel (29 th ), immigration laws (34 th ), the effectiveness of public-pri vate partnerships (33 rd ) and cybersecurity (26 th ), and the private sector’s efficiency in responding to market opportunities and threats (32 nd ). Sweden’s weaknesses include R&D productivity by publication (38 th ), female researchers (41 st ), smartphone possession (41 st ), and investment in telecommunications (49 th ). On the positive side of the country’s performance, Sweden improves in several indicators including e-participation (29 th ) and the private sector’s use of big data and analytics (ninth). In addition, the country remains in a leading position (first) in tablet possession, scientific and technical employment, and country credit rating. Other strengths include development and application of technology

(fourth), total expenditure on R&D (fifth), total public expenditure on education (fifth), and attitudes toward globalization (fifth). Finland drops to eighth place (from seventh) in the overall ranking. At factor level, it also declines to 11th in knowl edge (from ninth) and to ninth in technology (from eighth) but improves in future readiness, moving up to fifth (from sixth). Finland drops in all the subfactors related to knowledge, ranking 11th in talent, 19 th in training and education, and 13th in scientific concentration. It also drops to 21 st position in business agility (from 16 th ). However, the countryremains in a robust position (third) in the adaptive attitudes and IT integration subfactors. In addition, it improves in the regulatory framework subfactor (from fifth to third) and technological frame work (from 12th to 11th). Finland’s overall decline is driven by sluggish perfor mance in several indicators, including women with degrees (the share of women who have a degree) in which it ranks 20 th , opportunities and threats (27 th ), higher education achievement (40 th ), and agility of companies (23 rd ). Other substantial declines are in the availability of senior managers with significant international expe rience (22 nd ), immigration laws (37 th ), and the availability of venture capital (albeit it remains in a strong position, eighth). Conversely, this year, Finland’s considerable improvements are in e-participation (sixth) and high-tech exports (percentage of manufactured exports, 38 th ). Among the country’s weaknesses are higher education achievement and female researchers (ranking 40 th in both), and pupil-teacher ratio (tertiary education, 44 th ), R&D productivity by publication (48 th ), and investment in telecommunications (56 th ). Its strengths include the development and application of technology (first), e-gov ernment (second), efficiency of banking and financial services (second), availability of digital/technological skills (second), scientific research legislation (third), the effectiveness of public-private partnerships (third), and cybersecurity (third). Taiwan returns to the overall top 10 in ninth position. It improves in the technology (third) and future readiness (seventh) factors and remains in the 18 th spot in knowl edge. Taiwan reaches the top place in the business agility subfactor. It also performs in other subfactors such as capital and technological framework (fifth in both) and, to a lesser extent, in training and education (10 th ). Taiwan’s lowest ranking positions at the subfactor level are in talent (22 nd ), scientific concentration (21 st ), and adaptive attitudes (17 th ).

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