Australia is lagging behind New Zealand and other smaller markets, according to a new report.

C'mon Aussie

The Harvard Business Review has created a Digital Evolution Index which assessed 50 countries' readiness for the digital economy.

The index based its score on four factors: supply (access and infrastructure), demand (consumer behaviours, trends and social media savviness), innovations (entrepreneurial and technology ecosystems) and institutions (government and regulations promoting the digital economy).

Emerging markets monopolise

The study found that emerging markets in Asia and Latin America topped the list. China, Malaysia and Thailand were the top ranked countries.

Finland, Czech Republic and The Netherlands completed the bottom three. 

Local hero

New Zealand ranked 14th overall and landed a spot in the 'Stand Out' category, which the study defined as: "Countries (which) have shown high levels of digital development in the past and continue to remain on an upward trajectory."

Australia scraped in at number 41, and was judged to fall into the 'Stall Out' category, which covered countries which have achieved a high level of evolution in the past, but are losing momentum and risk falling behind.

Take aways

The challenge for local brands and marketers? Don't wrest on your digital laurels.

Continue to keep abreast of emerging trends and innovate. And maybe even check out what the Kiwis are doing on the other side of the pond. 

To find out more visit fletcher.tufts.edu.