Sweden the most competitive countries in the digital economy.

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Sweden continues to be the best country in the world in adopting and implementing ICT advances for increased growth and development, according to a new report by the World Economic Forum.

The Global Information Technology Report 2010-2011 said that Sweden tops the rankings for the second time in a row, "with an outstanding performance across the board".

"Sweden offers one of the best climates for technological adoption and innovation. Penetration of new technologies is among the densest in the world, with over 90 percent of the population using the Internet on a regular basis", the report said.

"Beyond usage, a number of new indicators included in the NRI (Networked Readiness Index) this year reveal the impact ICT is having on the Swedish economy and society at large. In Sweden more than anywhere else, ICT improves access to basic services and gives rise to new organizational models as well as new business models, products, and services".

"A true knowledge-based economy, Sweden boasts the 4th highest number of PCT patent applications per million population".

The Nordic countries lead the way in leveraging ICT. With Finland in third, Denmark in seventh and Norway in ninth place, all are in the top 10, except for Iceland, which is ranked in 16th position.

Led by Singapore in second place, the other Asian Tiger economies continue to make progress in the ranking, with both Taiwan, China and Korea improving five places to 6th and 10th respectively, and Hong Kong SAR following closely at 12th.

The World Economic Forum said that ICT was "a key enabler of a more economically, environmentally and socially sustainable world".