The paper analyzes the Digital Economy and Society Index (DESI), which characterizes the development of digital economy. Based on the data of 28 European countries for 2013–2018, using the panel regression, we studied the influence of the consumption index growth by the purchasing power parity and unemployment among the active population on the structural units of DESI. It is shown that a 1% increase in the consumption index results in about 0.2 increase in the DESI, and an increase in unemployment by 1% leads to about 0.2 DESI decline. It is also shown that the 98% value of DESI is actually determined by its previous trends, and therefore it is impossible to increase this index rapidly. Some reflections and conclusions are made on the perspective of the developing states, i.e., Ukraine, that is not yet assessed in DESI ranking.