For the third year running Sweden has topped one of the world's most prestigious information technology rankings, thanks to its ability to leverage IT and telecoms.

The World Economic Forum's annual Global Information Technology Report put the Scandinavian country at number one in the index that measures the relationship between how markets use advances in information and communication technologies (ICT) to drive economic productivity and social development.

"Sweden’s performance is remarkable in every aspect," the organisation said.

It ranked first in four of the ten categories of the network readiness index: Infrastructure and digital content, individual usage, business usage and economic impact. It also appeared in the top ten of a further five categories.

The report explained: "This conducive environment, combined with the highest degree of readiness and widespread use of ubiquitous technologies, maximizes the economic and social impacts of ICT, creating new business opportunities, fostering innovation, and reinforcing a knowledge-based economy."

ICT is also becoming an important factor in the bid to boost business and welfare.

"Over the past 10 years, the information and communication technology industry has changed dramatically and its effects are increasingly transforming our economies and societies," said Soumitra Dutta, a professor of business and technology at INSEAD, co-editor of the report.

Singapore finished runner up to Sweden, followed by Finland, Denmark, Switzerland, the Netherlands, Norway, the United States, Canada and the United Kingdom.

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This article was published in collaboration with Stockholm Business Region.

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