Saudi Arabia is one of the top three countries in the Middle East and Africa in terms of readiness towards a digital economy, a recent study by Cisco showed.
Thus, Cisco believes that fulfilling the citizen’s necessary needs and creating a favorable business environment boost the future of digitization.
In addition, Cisco evaluates countries as per some criteria, including basic needs and business. In addition, it relies on human capital and technology adoption.
When measuring Saudi Arabia against these measures, it ranked third among the countries of the Middle East and Africa in terms of digital readiness.
For his part, Salman Faqeeh, managing director of Cisco, said:
“Nations are fast realizing the benefits of digitization, from strengthening communications, to transforming industries and stimulating job creation.
“With our findings, we believe countries can gain a more accurate picture of their economic viability and can make informed decisions to stimulate growth,” he added.
Kingdom ranks 10th in government investment
The kingdom has ranked 10th regionally in terms of business and government investment. Domestic entities are increasing their investments in digital infrastructure. Thus, the ongoing financial support will further propel the kingdom’s economy.
The kingdom has outstripped the world average and ranked 8th in ease of doing business across the MEA region.
“The kingdom’s digital readiness position in the region is testament to the efforts of the government in transitioning towards a digital economy.
Earlier, Cryptolydian reported that all countries around the world plan to adopt the state-of-the-art blockchain technology.
In November, Saudi Arabia is expected to announce the first digital government in the world, especially after the great efforts the kingdom exerted in this regard.