Dec 07, 2020

Mastercard’s new global index looks at digital economies

Mastercard
Digital Economies
MEA
Emerging economies
Georgia Wilson
2 min
Digital economy
Latest Mastercard global index looks at what makes a digital economy more trusted and resilient...

In partnership with the Fletcher School at Tufts University, Masterca released its ‘Digital Intelligence Index’ which looks at the progress countries have made to advance their digital economies, to foster trust and integrate connectivity.

Building on its earlier editions in 2014 and 2017, the latest report looks at the global digital development, details insights relating to key factors driving change, as well as what it means for economies facing challenges due to COVID-19.

Emerging as a hotspot for digital demand the middle east have created “powerful and progressive digital authorities to direct growth.” Economies that feature in the index include the UAE, Saudi Arabia, and Bahrain. “These states have outlined long-term strategic plans, supported by high levels of education, young populations and access to global talent, to diversify from energy exporting nations into digitally advanced economies,” commented Mastercard.

“The pandemic may be the purest test of the world’s progress towards digitalization. We have a clearer view on how dynamic digital economies can contribute to economic resiliency during a time of unparalleled global turmoil and can be positioned for recovery and change,” noted Bhaskar Chakravorti, Dean of Global Business at The Fletcher School.

Key findings from the index:

  • Mastercard states that with almost two thirds of the world online, we are entering into an ‘after access’ phases, in which access alone is not enough, with quality of access, effective use of digital, accountability, robust governance and policies, and trust are driving competitiveness and sustainable business practices
  • Young people are demonstrating high levels of digital engagement in emerging economies

“Never before has there been such an acute need to understand the factors that drive digitisation and digital trust. With that knowledge, businesses and governments can work together to help all 7.6 billion people around the world benefit from the vast opportunities a digitally advanced economy can bring. Whilst much remains uncertain today, it is clear that digital success will be a key building block in our collective recovery,” said Ajay Bhalla, president, Cyber & Intelligence, Mastercard.

To read the full report, click here!

For more information on business topics in Europe, Middle East and Africa please take a look at the latest edition of Business Chief EMEA.

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