Australia is the best country to do business over the internet, an index compiled by eBay and The Economist intelligence unit shows.
The e-Trade Readiness Index ranks Group of 20 countries’ internet-enabled trade. The European Union is treated as a separate entity, so 19 countries are ranked. Australia has the highest e-trade ranking out of the 19.
In second place is the United States, followed by South Korea, Britain and Japan. The lowest ranked is Argentina.
Australia topped the list because of its 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.
Tod Cohen, eBay’s head of government relations, is visiting Sydney this week to meet the G20 taskforce looking at ways to reduce trade barriers.
“It is now more important than ever that we create a global environment that enables all businesses to reap the benefits of an interconnected world, with cross-border online shopping in Australia expected to increase 300 per cent in five years,” he said.
He said eBay was looking at ways to create a level playing field for retailers and enterprises of all sizes, enabling them to reach global markets.
The report says that customs and regulation restrictions may hinder the growth of small and medium-sized businesses.
“Our teams are actively working across borders, geographies and cultures to continue to reduce friction points and barriers to entry for consumers of all backgrounds and merchants of all sizes, add additional participants into the global economy, and create new connections between them that didn’t exist before,” Mr Cohen said.
*Original Article by Nassim Khadem: http://www.brw.com.au/p/tech-gadgets/australia_best_country_for_online_wv5oX2dnVw5dIM9eDvdhFO