High-tech products were once found only in high-end offices or the houses of riches. These days, technology is in our workplaces, homes, a gym, and even in our pockets. It goes without saying that countries across the world are getting their lion’s share of businesses and consumers investing in technology.
Top 5 Most Hi-Tech Countries in The World
A lot of countries are going hand in hand with this technological revolution and growing their own technology industries and exporting innovative products worldwide. It helped to boost their own GDP as their reputation for producing world-class technology products. Here’s the list of the most powerful and high-tech countries in the world.
At No.1 is the greatest superpower in the world, the United States of America, which still ranks top in terms of high-tech revolution. More than 6.7 million of the country’s population works in the technology industry. It is reported that 6% of GDP of the country was brought in by the internet, let alone other technology industries.
The success of an American tech giant Apple plays a vital role in making it a superpower. With the market capitalization of a whopping $800 billion in 2017, it was Apple which led the US to rank 16th in terms of national GDP. This amount was bigger than the combined net worth of Bill Gates, who ranks 10th in the world’s richest people.
Asian neighbor of South Korea, Japan has been in the tech game for a long time. But it is still a newcomer to this industry. Despite the success of the country and its love affair with electronic gadgets and latest devices, government is all set to grow its sector and even announced a plan to invest 1% of GDP of the country every year on technology and science in 2016, which is similar to around 26 trillion yen over the past five years, especially in terms of small-scale businesses and tech innovation. Some of the top tech companies in Japan are leading names to reckon across the world, including Toshiba, Sony, Panasonic, and Mitsubishi.
3. South Korea
South Korea might be late in terms of technology, but this Asian country has made up more than they have lost in the late 20th century as well as an early 21st century. South Korea was among the poorest countries in the world in 1960. Today, it is among the 14thlargest economy in the world. And technology has helped them very much to pick up growth. South Korea will keep on encouraging tech giants. They also have technology companies which are most successful in the world. Samsung is the best example as a South Korean giant which has become the world’s second largest tech company in 2017, as it has $174 billion in sales.
Germany has a rich and long-back success story in terms of high tech countries, especially in automobile manufacturing. They are also making way to technical innovation in Europe. Germany spends 3% of GDP on R&D, i.e. around $116 billion. Once the smartphone manufacturer, Siemens has a presence in all technological aspects, from transportation to renewable resources of energy. SoundCloud is one of the huge success stories in a new generation, which enables DJs and musicians to upload their own creations.
The dominance level of China over capitalist technology and capitalism is no longer a secret now. The country enjoys significant growth in the economy and is planning to generate over 60% of its GDP from technology and science by 2020, as per a five-year plan in 2016. When hardware companies like Mi, Huawei, Oppo, Vivo etc. have their dominance in the smartphone market, Chinese Google, Baidu will keep dominating the domestic market with over 70 billion users. Alibaba is the best Chinese tech exporter. It is an eCommerce website which works like an Aladdin’s cave and sells everything from real estate to electronics.