By BusinessWorld Staff, May 1, 2024; BusinessWorld

The Philippines fell by two notches to 63rd out of 65 countries in the 2023 edition of most technologically advanced countries ranking by international magazine Global Finance. The report ranks a country’s technological strength across four metrics: internet users as a percentage of a country’s population; LTE users as a percentage of the population; IMD World Competitiveness Center’s Digital Competitiveness Score; and share of a country’s research and development spending to its economic output. Among 11 East and Southeast Asian countries included in the report, the Philippines ranked the lowest with a composite score of -5.77.