Hong Kong has dropped out of a global top 10 index measuring an economy’s policies, institutions and environment that allow it to use information and communications technology to promote prosperity, according to a report released yesterday that named Singapore in first place.
The city fell to 14th place, down from 8th in 2014 in the Networked Readiness Index of 143 economies which forms part of the Global Information Technology Report 2015 produced by business school INSEAD in partnership with the World Economic Forum and Samuel Curtis Johnson Graduate School of Management at Cornell University.
“As a general-purpose technology, ICTs have an impact that extends well beyond productivity gains. ICTs act as a vector of social development and transformation by improving access to basic services, enhancing connectivity, and creating employment opportunities,” the report said.
To compile the Network Readiness Index, researchers examined four sub-indexes looking at the regulatory and business environment. Infrastructure, usage and social and economic impact were then compiled to form the index.
The four sub-indexes assessed areas including country’s intellectual property rights protection, how much the business community supports innovation, the cost of broadband internet subscription and the education level and ability to use ICTs.