Denmark leads the world in its ability to adopt and explore new digital technologies. This according to the 2022 IMD World Digital Competitiveness Ranking published in September 2022. A total of 63 global economies were studied and ranged according to future readiness, knowledge and technology.
Most future-proofed country
This year the World Digital Competitiveness Ranking measured 54 criteria. Denmark’s triumph is in large part due to its outstanding performance in future readiness: defined by the WCC as “the level of country preparedness to exploit digital transformation”. It performs strongly in business agility (1/63) and in IT integration (1/63), also reaching 5th in its adaptive attitudes. Denmark also remains among the world’s leading economies in digital talent and training and education.
Outranking the giant
IMD (International Institute for Management Development) has produced the rankings since 2017. In the 2022 version, Denmark pushes USA from 1st to second place. Sweden remains in 3rd place, and Singapore gains one position, taking 4th. Switzerland moves up to 5th (from 6th). The US still leads Denmark in scientific concentration and access to capital which is not surprising considering, that the population of Denmark is just 5,8 million compared to the US’s 332 million.
Digital as well as economic competitiveness
The “Digital Competitiveness ranking” follows hard on the heels of the even more valuable “World Competitiveness Ranking” in July 2022. This ranking also placed Denmark at first place. For tech companies looking for a location for a Nordic or European office or for their R&D division these two rankings taken together should carry some weight. They are certainly among the reasons why Copenhagen Science City is “Possibly the best place in Europe to launch or scale your innovation based company”
A help for governments and companies
the IMD World Digital Competitiveness Ranking is produced by the World Competitiveness Centre at Swizz business school IMD. It is based on a mixture of hard data and survey replies from business and government executives. The digital rankings is produced to help governments and companies to understand where to focus their resources and what might be best practices when embarking on digital transformation.