The top 5 Technologically oriented countries
The world can be split into two kinds of countries: Technologically oriented and those that aren’t. The former group invests heavily in their technological infrastructure. At the same time, the latter focuses more on traditional areas like healthcare, education, and manufacturing. The developed world consists mainly of the former while developing countries have the opposite approach. Here are the top 5 technology-oriented countries in the world today.
Finland has long been at the forefront of Technologically innovation and internet freedom. The country ranked third on Facebook’s Freedom on the Net 2015 index. Finland also claims more than 300 startup companies with an average funding of USD 6 million. Per capita income is just below USD 45,000, and total exports exceed USD 100 billion annually. With a population of fewer than 6 million people, Finland punches above its weight class regarding intellectual capital and entrepreneurship. For example, Nokia was founded in that country. However, it achieved global success as a brand that essentially defined how most of us view mobile phones today.
With a reputation for transparency and efficiency and being home to a popular online game called Candy Crush Saga, Sweden is a Technologically hub. It also boasts that 70% of Swedes have access to broadband internet. While Sweden has good mobile coverage and advanced digital infrastructure, it doesn’t quite rank among some of its Nordic counterparts (like Iceland and Denmark) for tech startups and working remotely. However, companies like Skype—created by Niklas Zennström and Janus Friis, who were both Swedish—and Spotify—whose CEO Daniel Ek is Swedish—Sweden has helped push forward an environment where all kinds of tech-based businesses can thrive.
Ranked third on Innovation Union Scoreboard, Sweden’s economy is driven by a solid innovation system and excellent infrastructure. The country does particularly well on technologically transfer and its capacity for research collaboration. Research institutions and universities link up with each other and with industry to bridge knowledge gaps. R&D tax credits are available to all companies that conduct research and development, leading to high private investment rates. Sweden has one of Europe’s most vibrant ecosystems in terms of startup creation. High levels of entrepreneurship among workers mean new businesses get off to a flying start—and have better chances at success than those created outside of work or for whom entrepreneurs lack an affinity for their business idea in general.
For starters, Norway is exceptionally wealthy (its GDP is about $70k per capita) and highly productive. The country’s official language is called Norwegian. Not only is it a complex blend of different languages, but it’s also infused with local dialects. That’s one of its most distinguishing traits: despite having a unified culture and similar economy, each area has its ways of speaking and communicating. Norway is among Europe’s least crowded countries in terms of population density. Nearly 80% of its residents live in just 10% of its land area! It has a relatively low fertility rate for an industrialized nation at 1.85 children per woman (the world average is 2.4).
With its small population of less than 6 million, Denmark boasts a reasonably high ranking on The World Economic Forum’s Global Competitiveness Report (5th place as of 2016). Although taxes are high—especially on corporate tax and VAT—and public investment spending has dropped since 2010, Denmark ranks highly on e-government and infrastructure services. The country is one of few in which over 30% of citizens have used electronic government services at least once. In terms of infrastructure services, Denmark also has some impressive statistics: internet users per 100 people (98), mobile broadband subscriptions per 100 people (99), fixed broadband subscriptions per 100 people (60), cellular telephone subscriptions per 100 people (143). Overall marks: A+.