Vietnam is among the fastest growing digital countries.

MasterCard and Fletcher School of Business at Tufts University (USA) recently announced the results of the global "Digital Development Index" survey, which provides a list of countries with the highest level of readiness in supporting billions of next-generation Internet users.

According to the results of this survey, Singapore (ranked 1st) and Hong Kong (ranked 3rd) are two of the top three countries thanks to their developed digital economy, which continues to grow.

Vietnam is currently in the “Burst” group of countries that currently have low readiness scores, but are growing rapidly.

Sweden (2nd), the UK (4th) and Switzerland (5th) rounded out the top five, out of 50 countries surveyed this time.

China, Malaysia and Thailand are among the top three fastest growing digital economies, thanks to rapidly increasing smartphone and internet penetration. Six of the top 10 countries in this category are Asian.

Although there are currently 2.9 billion Internet users worldwide, the survey report also stated that there is still an opportunity for businesses and governments to expand Internet access to the remaining 60% of the world's population.

“Asia is a hotbed of digital inclusion. We see developed countries in the region dominating the survey, and emerging countries have huge potential due to the rapid pace of digital adoption,” said Raj Dhamodharan, Head of New Payment Solutions, Asia Pacific, MasterCard.

The index helps businesses and governments in Asia understand the digital landscape in their countries, revealing trends and providing valuable insights into current and future Internet users.”

The study also identifies four interdependent drivers – supply, demand, institutions and innovation – that help determine each country’s digital development and serve as strategic benchmarks for future growth.

While developed countries dominate the top spots, a different picture emerges when measuring digital adoption.

The study analyzed the development of each market from 2008 to 2013 to understand each country’s benchmarks, track progress, and identify areas for improvement. Countries were divided into four different trajectory groups:

- “Bursting”: These countries currently have low readiness scores, but are growing rapidly. India, China, Vietnam, and the Philippines are examples.

If this pace of growth is maintained, these countries will emerge as powerful digital economies, but research indicators suggest that the next phase of growth may be more difficult to achieve.

- "Stalling": Despite previous strong growth, countries in this trajectory (mostly Western and Nordic countries, Australia and Japan) have matured.

- “Emerging”: These countries, such as Singapore, Hong Kong, the US and New Zealand, have achieved and continue to maintain high levels of digital transactions supported by modern platforms and smart domestic consumers. To remain Emerging markets, these countries must continue to push innovation and creativity.

- “Caution”: These countries face challenges, but with a combined population of 2.5 billion, they have huge investment opportunities. Indonesia, Russia, Nigeria, Egypt, and Kenya are examples.

According to Vietnam+