Mexico is in the last 10 places in the 2020 world digital competitiveness ranking

Mexico occupies one of the last places in the 2020 world rankings of digital competitiveness of the Institute for Management Development (IMD). According to the statistics carried out for 2020, the Latin American country ranks 54th out of 64 participating countries in terms of the general ranking.

Although 2020 was a time when the majority of companies in countries around the world migrated, expanded, or simply started digitally due to the pandemic caused by Covid-19; While Mexico is widely known for its presence in various innovative digital projects, it doesn’t have enough technology to position itself in the world rankings for digital competitiveness, as Forbes points out in its digital edition of Today.

The Institute for Management Development (IMD) makes its ranking on the basis of knowledge, technology and preparation for the futureor. In terms of technology, Mexico ranks 56th according to IMD, four places higher than 2019. The regulatory framework, the capital and the technological framework are three factors that are developed within the technology object, and if you look at them individually, none positioned above the 50th place is a good digital development.

Mexico is in the last 10 places in the 2020 world digital competitiveness ranking
Mexico is in the last 10 places in the 2020 world digital competitiveness ranking

One of the fundamental factors fueling the blockade of digital progress in Mexican territory has a lot to do with regulatory frameworks Therefore, in assessments that have to do with the development and application of technologies, the fulfillment of contracts and the establishment of new companies in the region, these are not issues that have a clear path and to which the necessary attention must be paid, as it is is a critical point that will exacerbate digital technological stagnation if not properly implemented. According to the Mexico Forbes portal, something that is blocking digital development is â ????the imposition of arbitrary and discriminatory rulesto????.

In the context of the last year, A clear example of the regulations is that of the Bank of Mexico (Banxico) and the National Banking and Securities Commission (CNBV). This regulation requires financial institutions to have local and cloud storage for electronic payments.

And according to the Latin American Internet Association (ALAI), that mandate expressed that fintech companies will do great harm.

This measure contributes to the delay of the digital progress, because according to Mexico Forbes â ????This is an obstacle due to the operational complexity and cost of having data centers on a local server and in the cloud at the same time. Here entrepreneurs and medium-sized companies lose out to traditional banks.

Similarly, the United States Congress has shown that this regulation does not follow the line of the T-MEC chapters on digital commerce and financial services.

In 2019, the share of internet usage for online banking was 16.8% and in 2020 21.7%; and for online purchases, they were 22.1% last year and 27.7% last year, up 4.9 and 5.6% respectively.

According to the other two points that the IMD took into account when creating the ranking, Mexico was in 52nd place in the knowledge area last year, just as it was in 2019. In preparation for the future, it is also in 52nd place, but has risen by three places compared to the year before last.

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