Daily Management Review

Ten most technologically advanced countries in the world


In the past, technological innovations were a privilege of the richest people in the world. However, everything has changed today - technological innovations are everywhere.

Over time, development of technology led to an increase in consumer demand, which made the IT industry one of the most profitable in the world. In 2016, 24% of all world research fell on the computer technology and electronics sector, while software and Internet spending accounted for 12%.

Many countries are exporting technologies. This leads to GDP growth, as well as to the fact that countries receive the reputation of the most technologically advanced states. Below are ten most technologically advanced countries.

10. Australia

The digital economy accounts for almost 5.1% of Australia's GDP, and 22% of the country's workforce works in this sector. Among local technological achievements are Sportstec, a digital tool that analyzes achievements of athletes. Many of the world's largest technology companies are also considering potential of the Australian market and are opening their representative offices and research centers, the more so it is a good position to enter the Asian markets.

9. Sweden

Sweden is known for its achievements in the field of mobile technology development. In fact, Sweden has become one of the few countries that managed to achieve economic growth after the financial crisis of 2008, largely due to the success of technology companies. Manufacturers such as Ericsson, which dominated the market, now have to share the leadership role with newcomers, such as Spotify, Skype and Torrent. These are companies that use flexibility of the Internet to improve communications and develop opportunities to share information, ideas and music.

8. Canada

Canada is not the country that pops up in conversation when it comes to innovation. Probably, Canada itself would be surprised by getting into this rating, especially after a research of 2016 showed that its technology sector overtakes both the financial sector and insurance.

Technology companies generate $ 117 billion of Canada's GDP, which reaches $ 51 trillion, employing for nearly 6% of the workforce. There is even a Silicon Valley in the suburbs of Toronto, where companies that produce equipment and programs are located. Many startups are keen to take advantage of the opportunities with which mobile technologies provide them.

7. Great Britain

Once Britain ruled the waves, but if we talk about technology, then this country loses to the younger countries. Nevertheless, successful technology companies are still located here, and most large international companies still want to have an office in London. One of the largest British technology companies Sage develops accounting software that is sold around the world and allows users to perform complex operations on their iPads.

6. India

Someone would probably find it surprising that India occupies the 6th place in the rating of the most technologically advanced countries. However, local economy does provide great opportunities and develops the technology sector. The technology industry has brought the country nearly $ 160 billion in 2016-2017, this is almost 10% of the country's GDP.

India's success is related to outsourcing of call centers, which are also a major source of employment for young Indians. Besides, there are companies such as Infosys, which currently operates around the world, even though it was founded with an investment of only $ 250.

5. China

China has demonstrated a significant technological breakthrough in recent years. It is predicted that by 2020 its scientific and technological sector will bring 60% of GDP. Companies such as Huawei launched their offensive into the smartphone market, and Baidu, the Chinese Google, continues to dominate the domestic market with over 70 million active users. Perhaps the most famous Chinese exporter is Alibaba, a retail giant that sells virtually everything from electronics to real estate services.

4. Germany

Germany has a long history of success in the field of technology development, especially in everything related to automotive production. In addition, Germany leads in Europe in terms of the level of technology and innovation. Spending on research and development in 2014 amounted to 3% of GDP, which corresponds to $ 116 billion. Siemens, which used to be known as a mobile phone manufacturer, now deals with a variety of technological developments, including innovations in the field of renewable energy.

3. South Korea

Back in 1960, South Korea was one of the poorest countries in the world. Since then, however, its progress in the economy as a whole and in the technology sector in particular has been enormous. Already in 2015 it became the 14th largest economy in the world, and in many respects this growth is connected with the development of the technological sector.

South Korea supports start-ups, there are many successful technology companies. Only Samsung, which is the second largest technology company in the world, reaches sales of $ 174 billion, as of 2017.

2. Japan

Japan has a well-established reputation of a country with advanced technologies. At the same time, the government of the country seeks to further develop this sector. Not so long ago it was announced that it is planned to invest an additional 1% of GDP each year in the development of the technological sector. This is equivalent to about 26 trillion yen for 5 years. In particular, it is planned to direct this money for the development of innovations and small start-ups.

Among the technological giants of Japan are such companies as Sony, Toshiba, Mitsubishi, Panasonic and many others.

1. USA

Not surprisingly, the US are leading in the field of technology development. 6.7 million people are working in this sector.

According to a research of 2015, 6% of GDP was brought to the US only by the Internet economy, not to mention the technological sector. Undoubtedly, this is due to the success of companies such as Apple. In addition, there are many other companies in the United States, and it is here that a unique environment has developed that is favorable for the development of start-ups.