PH slips three spots in World Digital Competitiveness Ranking

The Philippines fell by three spots in this year’s World Digital Competitiveness Ranking, placing 59th out of 64 countries, according to a report by the Institute for Management Development (IMD) Thursday.

The ranking takes into consideration three factors where the Philippines posted slight growth — knowledge ranking 63rd (from 62nd last year), technology ranking 51st (from 49th last year), and future-readiness ranking 59th (from 58th last year).

In terms of the Asia-Pacific region, the Philippines was ranked 13th out of 14 countries, only ahead of Mongolia.

Among the challenges for the year provided by the Asian Institute of Management (AIM) are the sustained economic recovery and growth momentum, amid the global downside risks.

The Philippine economy grew by 5.9% in the third quarter, bringing the year-to-date growth to 5.5%. The full-year 2022 growth rate was recorded at 7.6%, the highest since 1976.

Other challenges cited include the strengthening of social protection and healthcare systems for inclusive development, addressing learning gaps to improve the local education system, investing in sustainable infrastructure, and reinforcing efficient public management strategies to support fiscal responsibility.

President Ferdinand “Bongbong” Marcos Jr. in July said the administration will continue to allocate 5% to 6% of the gross domestic product (GDP) for infrastructure spending, in a bid to mobilize goods and services at less cost and in less time to boost economic growth.

Meanwhile, the country’s debt-to-GDP ratio stood at 60.2% as of end-September, an improvement from the 61% recorded as of end-June.

This year’s list was topped by the United States, the Netherlands, Singapore, and Denmark, which IMD said could be considered “digital nations,” or countries that facilitate the full adoption of digital technologies such as artificial intelligence (AI).

“While we measure no specific AI indicators, the technology sits silently at the core of the subfactors that we quantify: talent, regulatory and technological frameworks, and adaptive attitudes and business agility,” IMD’s World Competitiveness Center professor Arturo Bris said in an accompanying statement.

“On a data level, the quality of digital regulation, the funding available for technology development, and the degree of company agility are all data points that are enmeshed with AI,” he added.

Marcos earlier this month said the Philippines is ready to embrace AI, as he called on technology firms to partner with the country when it comes to “technological revolution.”  —KBK, GMA Integrated News