Singapore (PRWEB) September 14, 2012
In this year’s Web Index, Singapore emerged as 11th best in the world and third in the Asia Pacific region in terms of the overall impact of the Web.
Analysis by Asiabiz Services, a Singapore company incorporation consultancy, indicates that the Web Index is a strong indicator of key areas that need to be improved for Singapore to remain competitive in today’s highly volatile global landscape.
The Web Index, published by the World Wide Web Foundation, ranks countries according to their use of the World Wide Web and its subsequent impact on social, political and economic development. By evaluating relevant indicators and statistics from official sources, the research is intended to become both an analytical tool as well as a resource for understanding how the Web is used to stimulate growth.
In this year’s rankings, Singapore was rated highly for its web content, political impact and most notably, its information and communication technologies (ICT) infrastructure.
In terms of ICT infrastructure, Singapore was ranked second in the world, earning high points for its impressive ratio of international bandwidth per user, number of broadband and mobile phone subscribers, overall public access, and other key indicators. The city-state also topped the global rankings for its internet speeds. At 547,064mb per second, Singapore offers the fastest internet speeds in the world, almost twofold that of Iceland, which ranked second in the category.
Singapore further earned high points in the political impact category. Its e-government services and use of ICT to provide accessible public services were deemed second best in the world.
AREAS FOR IMPROVEMENT
In spite of its high points in certain components of the study, Singapore came in 11th in the global rankings. This was primarily due to its weak performance in terms of web usage, social impact and economic impact.
For example, among countries with high GDP, Singapore has the lowest percentage of people who use the Web, indicating a weakness in accessibility options. In addition, there is an evident need to harness the full potential of the Web as a powerful business and economic tool.
“There is indeed a need to develop new business models that maximize the use of info-communications technologies to increase operational efficiency and bottom line profitability,” commented Mr. James Nuben, Head of Taxation at Asiabiz Services.
“A majority of Singapore businesses are still traditional, in the sense that most managers still expect to physically interact with their employees at work rather than employ ICT to change the business model. However, most employers need to understand that in order to move forward, we need to adapt to the rapid technological revolution,” he added.
“This is where new business models come in. For example, SMEs must maintain a strong web presence stay competitive, or use online technologies to improve operations. Through the Singapore PIC Scheme and iSPRINT program, SMEs, as well as new entrepreneurs who start a Singapore company, can now invest on their long-term success and at little cost to them, as the government has stepped up its efforts to defray such costs,” he concluded.
ABOUT ASIABIZ SERVICES
Asiabiz Services is a Singapore-based consultancy that offers business solutions for both local and foreign professionals, investors and entrepreneurs. Our areas of expertise include Singapore company registration, incorporation, offshore company setup, accounting, taxation and other related corporate services. Asiabiz Services also provides Singapore work visa and immigration services for foreign professionals wishing to relocate to Singapore.
120 Telok Ayer Street, Singapore 068589
Phone: +65 6303 4614