<p>In the World Digital Competitiveness Ranking of IMD, where Singapore has been in the first line for several years. The report is based on 50 ranked criteria: 30 hard and 20 survey data. In addition to the overall Rating, IMD presented in its report additional digital ratings for visualizing the situation in the digital world. So, the countries were divided by the population (above and below 20 million), by GDP per capita (above and below 20 thousand US dollars), and by geographic areas.</p><p>  Global ratings for each of the coefficients of digital competitiveness allow us to analyze the countries by 3 factors: the factor of knowledge, the technological factor and the factor of future readiness.</p><p><span style="text-decoration: underline;"><em><strong>Offshore Singapore showed stability in the Knowledge Factor Coefficient Index</strong></em></span></p><p>  The knowledge factor is fundamental in the conditions of technological transformations. Why? The availability of knowledge facilitates the assimilation and use of new technologies, the availability of appropriate talents and strategies for developing the country's talents are a crucial component of digital transformation. The presence of innovative experience favorably affects the adaptation of innovative ideas.</p><p>  Why is Singapore the leader in terms of knowledge? The government of the country understands that the limitations of initial investments can lead to imperfect digital adaptation, and a proper amount of knowledge is needed to form an environment of ideas, from which innovative solutions are formed. Therefore, the government invests in research and scientific products.</p><p>  The Knowledge Factor includes three sub-factors:</p><ul><li>talent,</li><li>investment in training,</li><li>education and scientific concentration.</li></ul><p>  Talent is a set of skills and opportunities available in a particular economy. The strength and level of talent development are interlinked with the priority allocated to training and the formation of labor. Scientific concentration allocates investment and production of knowledge necessary for the digital transformation of the economy.</p><p><em><span style="text-decoration: underline;"><strong>Offshore Singapore has shown stability also in the Technological Factor Coefficient Rankings</strong></span></em></p><p>  The technological factor can influence the successful adaptation of innovative ideas. It's no secret that organizations of the country must support innovation and be ready for innovations in their field of activity in order to transform the economy. However, new technologies can not arise without the presence of a sponsor investing in their development and implementation. Innovative strategies and processes, product development, identification and introduction to new markets - all this is necessary for a successful transformation of the economy.</p><p>  The technological factor assesses the overall context through which digital technology is developed. This factor includes a number of subfactors:</p><ul><li>Normative support that allows you to effectively carry out business activities and ensure compliance with relevant rules, encouraging business development and innovation.</li><li>Capital, which assesses the availability and ongoing investments in technology development. It also examines the level of investment risk in a particular economy.</li><li>The technological structure that assesses the current physical technological infrastructure in the country, as well as its quality. In addition, this structure takes into account high-tech production.</li></ul><p><span style="text-decoration: underline;"><em><strong>In the Factors Index of future preparedness factor, Singapore fell by 2 positions</strong></em></span></p><p>  The factor of future readiness for change influences the successful adaptation of innovative ideas. Readiness for digital transformations is emphasized by the organizational inclination to introduce new technologies and related processes. Uncertainty in the business context, caused by the advent of new technologies, encourages enterprises to become "flexible" in order to maintain a competitive advantage. Simply put, the willingness is interconnected with the flexibility of the organization. In this context, flexibility refers not only to the speed at which organizations seek change, but also to the effective use of available resources to make an adequate response to change and maximize the benefits of new opportunities. Knowledge management leads to increased awareness that changes are needed to resist transformation. In addition, knowledge sharing plays an important role in the ability of organizations to identify the appropriate response to technological innovation. These answers lead to better practices (for example, to a better flow of information), which in turn facilitates the introduction and diffusion of new technologies.</p><p>  The factor of future readiness analyzes the level of readiness of the economy to its digital transformation. In this sense, it includes three sub-factors:</p><ul><li>Adaptive relations. Competitiveness requires that accessible digital technologies be "absorbed" by society. Absorption of digital technologies requires certain adaptive settings, including the willingness of society to participate in processes related to digital communication, for example, to participate in online shopping.</li><li>Business flexibility. Readiness also requires the flexibility of the business in terms of adopting new technologies. In this sense, Business Agility implies that firms in a particular economy can transform their business models in order to use new opportunities. This also applies to the level of innovation that comes from the private sector.</li><li>IT integration. Readiness needs IT integration, which assesses how well IT practices and processes are applied by all participants.</li></ul><p> </p><p>  On the history of the ratings from 2013 to 2017, Singapore took only the first place. According to the rating of 2017:</p><p>on the sub-factor "Normative support" - 1 place:</p><p>Start of business - 4 place.</p><p>Enforcement of contracts - 2 place.</p><p>Immigration legislation - 42 place.</p><p>Technological regulation - 1 place.</p><p>Scientific and research legislation - 3 place.</p><p>Intellectual property rights - 8th place.</p><p>on the subfactor "Technological structure" - 1 place:</p><p>Communication technologies - 11th place.</p><p>Subscribers of broadband mobile access - 2 place.</p><p>The subscribers of wireless access - 1 place.</p><p>Users of the Internet - 1 place.</p><p>The speed of Internet traffic - 8 place.</p><p>High-tech exports (%) - 2 place.</p><p>on the sub-factor "Capital" - 14 place:</p><p>Market capitalization IT &amp; Media - 21 place.</p><p>Financing of technological development - 2 place.</p><p>Banking and financial services - 3 place.</p><p>Investment risk - 3 place.</p><p>Venture capital - 5 place.</p><p>Investments in telecommunications - 59 place.</p>