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September 18, 2021

Economy’s digitization, lagging behind Trinidad and Tobago

A recent study published by the World Economic Forum places our country on the 65th place out of 138, lagging behind countries like Barbados, Mauritius or Trinidad and Tobago, as regards the use of information technology and communications in the economy, Realitatea.net reports. The world’s most competitive countries in terms of digital economy are Sweden, Singapore and Finland. Northern and Asian countries are, on the whole, most adept at using information technology to boost economic growth. The ranking was made based on three criteria: business in general, regulations and infrastructure for IT&C and the actual use of information technology and communications in the economy. Digital economy is considered the ultimate form of economy in general. The reason for this perception is its economic effectiveness, that is, lower consumption, enhancing innovative spirit, higher productivity, the speed at which economic phenomena and processes occur, boosting the added value, etc.

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