Australia is the country best positioned for e-commerce according to a recently published study that ranks G20 nations on the degree to which they encourage (or conversely, discourage) Internet enabled trade.
The G20 e-Trade Readiness Index compiled by eBay and The Economist intelligence unit comprises more than 40 indicators across five categories: investment climate, internet environment, international trading environment, regulatory and legal framework, and the environment for e-payments.
In second place was the United States, followed by South Korea, Britain and Japan. Canada ranked seventh on the list (it did however rank first in terms of e-payments).
The study found that despite – or perhaps because of the legendary “tyranny of distance” – Australia topped the list owing to its combination of affordable internet access, a well-developed regulatory framework, high smartphone penetration and high e-payments adoption.
“The index reinforces the need for business to work with industry, government and regulators to reduce barriers limiting the growth of cross-border trade,” said Tod Cohen, eBay’s head of government relations.
“Small and medium sized businesses are continuing to integrate information and communications technology into their business models – and they need the global policies to adapt and adjust to this new global, data driven market,” the report says. It suggests that the potential for “a new wave of cross-border commercial and economic opportunity for the vast majority of businesses the world over” should be an important consideration for government policymakers looking for new economic growth.