Photo credit; Marc Falardeau on Flickr
Australia is the best country to do business over the internet, the e-Trade Readiness Index shows.
The index, compiled by eBay and The Economist intelligence unit, ranks Group of 20 countries’ internet-enabled trade. Because the European Union is treated as a separate entity, 19 countries are ranked in this particular index and Australia has the highest e-trade ranking out of those 19.
Rounding out the top five are the United States, South Korea, Britain and Japan respectively. The lowest ranked is Argentina.
Australia topped the list because of:
- affordable internet access,
- high smartphone penetration,
- a well- developed regulatory framework and
- high e-payments adoption.
The index 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.
The categories are weighted based on The Economist intelligence unit’s assumptions of their importance in cross-border trade using the internet.
However, the report also says that customs and regulation restrictions may hinder the growth of small and medium-sized businesses.
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Tags: Australian, business, internet, online
