Network readiness index 2005: Singapore surpasses US as top tech nation

This is amazing news. The US has dropped from rank number one to number five, surpassed by Singapore as the top economy in information technology competitiveness, according to the World Economic Forum's latest annual Global Information Technology Report.

Singapore is followed by Iceland, Finland and Denmark.

Asian powerhouses India and China improved their positions climbing to numbers 39 and 45, compared to 45 and 51 in 2003.

Other Asian nations:

Hong Kong is ranked 7, up from 18.
Japan is ranked 8, up from 12
Australia is ranked 11, down from 9
Taiwan is ranked 15, up from 17
Korea is ranked 24, down from 20
Malaysia is ranked 27, down from 26
Thailand is ranked 36, up from 38
Philippines is ranked 67, up from 69
Vietnam is ranked 68, the same as in 2003/4

To get the table, click here.

The index examines the readiness of economies according to the general macroeconomic and regulatory environment for ICT, the readiness of individuals, businesses and governments to use and benefit from ICT, and their current usage.

Singapore's remarkable performance," the report says, "is a consequence of the government's consistent and continuous efforts in fostering ICT penetration and usage, as well as the quality of the country's educational system and its able use of foreign technology."

Great talent, supported by a fostering environment is everything - that basically is the message.

(By Asia Business Consulting)