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World Economic Forum announced the results of its annual study on how countries are able to leverage ICT as a sustainable, long-term source of economic development. The results show success in general for the Nordic countries, Sweden is ranked first, Denmark third, Finland sixth and Norway tenth.

World Economic Forum describes the key index used in the report, The Networked Readiness Index (NRI), as an analysis how prepared countries are to use ICT effectively on three dimensions: the general business, regulatory and infrastructure environment for ICT; the readiness of the three key stakeholder groups in a society – individuals, businesses and governments – to use and benefit from ICT; and the actual usage of the latest information and communication technologies available.

In essence, these countries that rank well in the study are able to leverage ICT in all sectors of society and use it in a sustainable manner to develop wellbeing for the society. While looking at ICT on this level, there were 68 variables being studied and compared across all the countries that participated in the study.

Some of the interesting facts that can be found from the study (great data tables, by the way) that Finland, Sweden and Norway all rank in the top 10 of availability of venture capital funding – above Israel and United States for example. Needless to say, despite being in the top 10 of the study many Nordic countries still “suffer” from the burden of government regulation – making the market environment harder to live in.

Irene Mia, co-author of the study, explains more about the study below.

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