New Report: US Still Leading in IT Role in Economic Growth

The US is using information technology to boost economic growth more than any other country in the world, according to the new Global Information Technology Report 2003-2004, published by the World Economic Forum (WEF).

Singapore is in second place, with European nations such as Finland and Sweden accounting for 11 of the top 20.

Governments and companies should keep investing in IT if they want their economies to flourish, the WEF said. It also may be one of the best ways for developing countries to close the gap between the rich and poor.

Bruno Lanvin of the World Bank said the "view that information technology and poverty reduction were at the two opposite ends of the spectrum of development policies" is outdated.

Improving telecommunications infrastructure, access to the Internet and computer skills can be a "very powerful tool to fight poverty," he said.

South Africa is the highest ranking African country in the survey, coming in 37th place. Tunisia is ranked 40th, with Mauritius placed 43rd and Botswana 55th. The bottom five countries in the survey of 102 economies were Chad, Ethiopia, Haiti, Angola and Honduras.

According to Professor Klaus Schwab, founder and chairman of the WEF "more then ever, we must intensify our efforts to enable individuals, businesses and governments to benefit more fully from the use and application of information and communication technology".

Covering a total of 102 economies, the Networked Readiness Index of the new Global Information Technology Report 2003-2004 measures how prepared economies are to participate in, and benefit from, information and communication technology (ICT) developments. Since it was first launched in 2001, the report has become a valuable benchmarking tool to determine national ICT strengths and weaknesses and evaluate progress. The report also highlights the continuing importance of ICT application and development for economic growth.