First place for Singapore in the Global Index of Digital Entrepreneurship

The Global Index of Digital Entrepreneurship Systems (GIDES), developed by the Asian Development Bank (ADB), shows that Singapore is ranked the first out of 113 global economies in a global ranking of digital environment and support systems for entrepreneurs.

The index was released yesterday, 22 September 2022 as part of the Asian Development Outlook 2022 Update report.

Sweden is ranked the third on the list, followed by Denmark, Switzerland, Netherlands, Finland, and Norway.

In addition, the index shows that Malaysia takes the 27th rank, Thailand (59th), Vietnam (63th), Indonesia (71st), the Philippines (79th), while Cambodia takes the 101st rank.

ADB Chief Economist Albert Park said that:

“Digital entrepreneurship helped economies stay afloat during the COVID-19 pandemic, and it can become a major engine of growth and innovation in the post-pandemic world.For this to happen, there needs to be a supportive environment enabled by conducive policies and incentives. While the environment for Asia’s digital entrepreneurs made substantial strides in the past couple of years, there’s still a lot of room for improvement.”

The index measures the quality of the environment for digital entrepreneurs by looking at the level of digitalisation in eight areas, namely culture, institutions, market conditions, infrastructure, human capital, knowledge, finance, and networking.


About Kanlayakorn Pengrattana

Kanlayakorn 'Princess' Pengrattana is a freelance writer at ScandAsia.

View all posts by Kanlayakorn Pengrattana

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