Digital economy

Grand Duchy one of the ten top digital economies

At the end of January 2017, the European Commission published a new European study on digital transformation. The Grand Duchy occupies an honourable 6th place.

08-ecodigitaleIn a country, digital technologies create new markets and business opportunities. The major challenge consists of making sure that these opportunities are seized by industrial companies and services so that digitalisation can become a job-creating lever for growth in the country.

Grand Duchy conducive to a digital economy

The report highlighted here draws a distinction between two major types of category for a favourable digital economy: enablers and resultants. The 'enablers' category includes digital infrastructures, investments, and access to funding, the supply of and demand for digital competencies, e-leadership, and entrepreneurial culture. The resulting DTEI index (Digital Transformation Enablers’ Index) is based on the indicators included in the enablers' category.

This puts the Grand Duchy in 6th place in the index, with a score of 67/100. The ranking is headed by Sweden, with a score of 78/100. The Grand Duchy's neighbouring countries are also well placed - Germany ranks 7th, and France ranks 9th.

The Grand Duchy scored particularly well in three areas: it ranked 4th in the EU for:

  • digital infrastructures
  • investments and access to funding
  • e-leadership

Overall, the Grand Duchy is one of the 'best enabling countries'.

A digital economy still to be developed

Despite the fact that the country is currently one of the EU's leaders in the field, there is still some room for progress on the low level of the integration of digital technology and on optimal take-up of the potential of its start-ups in the field of ICTs.

Given these limits, the Luxembourg Government recently launched a number of policies aimed at supporting the development of ICT businesses (such as Digital Lëtzebuerg, for example) and improving the digital competencies of students and jobseekers (such as the Fit4coding scheme).

Some information about the DTM

The DTM (Digital Transformation Monitor) aims to give a better overview of the state of progress on and evolution in digital transformation in Europe. In this context, it provides reports on the challenges and strategic initiatives connected with digital transformation. Its index is the DTEI (Digital Transformation Enablers’ Index): it measures the progress made by various EU countries on the process of digitalising the economy. The Index ranks the countries analysed on a scale from 0 (the worst) to 100 (the best).

 

(Article written by the editorial team of the portal luxembourg.lu)

  • Updated 10-02-2017