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Eye of Riyadh
Eye of Riyadh
Business & Money | Wednesday 9 September, 2020 7:38 am |
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Saudi Arabia tops G20 in digital competitiveness

Saudi Arabia ranked first among the G20 member states in digital competitiveness in the last three years, according to the World Competitiveness Report released by the European Center for Digital Competitiveness.

The report was based on the World Economic Forum's findings in this regard. Such an achievement is the result of the continuous support extended by Custodian of the Two Holy Mosques King Salman and Crown Prince Mohammed bin Salman, deputy premier and minister of defense.

Their support for the communications and information technology sector allowed the Kingdom to make a quantum leap in digitally-administered infrastructure, promoting digital potentials and huge digital enterprises and projects and applying digital laws and regulations.

The report assessed the steps and achievements in the digital shift environment, including venture capital investments, ease of doing business, and the digital skills of the youth. It also took into account the readiness to adopt and adapt to the digital shift and innovation in the workforce, preparedness to lead with entrepreneur ventures, promote innovative ideas in businesses.

The ranking also reveals interesting patterns with regard to the two global digital superpowers: China and the United States. It shows that China has gained significantly in digital competitiveness, while the US fell over the same time period, mainly due to a decrease in attractiveness for international talent.

 

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