You will be surprised but the Philippines is hailed as one of the world’s digital risers in the Southeast Asian and Oceania Region, according to the Digital Riser Report of the Center for Digital Competitiveness by ESCP Business School.
Initiated by the Berlin-based European, it also stated that the country is keeping up with G7 and G20 countries like France and Saudi Arabia, even topping New Zealand, which surprisingly settled at the lowest ranking.
The report pointed out that,
“In East Asia and the Pacific, the Philippines was the top Digital Riser over the last three years, while New Zealand fell significantly behind,”
The report also examines a country’s digital competitiveness with an inclusive period of the past three years as specified by its digital ecosystem and mindset.
In addition, the Pearl of the Orient landed first in terms of mindset dimension and second in East Asia and the Pacific ecosystem.
The details further mentioned that,
“The Philippines’ outperformance can mainly be explained by its Innovate Start-up Act lighthouse initiative, which was passed in 2019 to strengthen, promote and develop an innovative and entrepreneurial ecosystem and culture.”
Stated verbatim in the report were the following points that made the Philippines part of the top list:
- Prioritizing and accelerating promising startups and enablers for their applications with state services; and
- Leading education institutions to integrate entrepreneurship in their curricula and provide grants and incentives to academic institutions.
- The government’s regulation on startup visas for owners, employees, and investors as the inclusion of the Start-up Assistance Program 2019-2023;
Coming behind the pack is a neighbor country also from the SEA Region, Thailand. This is trailed behind by Indonesia, China, Cambodia, Japan, Mongolia, Brunei, Singapore, Taiwan, South Korea, Malaysia, Australia, Vietnam, Hong Kong, Laos, and New Zealand.
Detailing some citation, the report also noted,
“The Digital Riser Index indicates that the competitive landscape around digital technologies is moving extremely quickly. Governments that place digital transformation at the top of their agenda can achieve tangible results in relatively short time frames, and countries traditionally less associated with digital, such as Saudi Arabia, have climbed to the top of the Group of Twenty (G20) in terms of their relative progress in this field,”
“Also, our study highlights that countries can become Digital Risers independent of size and still boost their relative competitive position. In the East Asia and Pacific region, for example, the Philippines and Thailand have outperformed much larger neighboring countries, such as China and Indonesia, which suggests that progress is attainable independently from both a country’s digital competitiveness baseline and its size.”
For reference of the groupings, the top digital risers are France for G7 countries followed by the Saudi Arabia for G20 countries and the Middle East and North Africa region, the Dominican Republic in Latin America, Armenia in Eurasia, Bulgaria in Europe and North America, the Caribbean, Sri Lanka in South Asia, and Seychelles in Sub-Saharan Africa.