-- Actual usage of the latest technologies.

The U.S. replaced Singapore on the top spot, rising four places this year -- reaching the top spot for the third time in five years.

According to Augusto Lopez-Carlos, director of the Global Competitiveness Network at the World Economic Forum and co-editor of the report, America's impressive performance is based on an outstanding ICT physical infrastructure, a broadly supportive market environment, and high levels of business and government usage of the latest technologies.

'The US also continues to lead the world in technological innovation, helped by the excellent quality of its institutions of higher education and extensive levels of cooperation between its research centers and the business community,' Lopez-Carlos said.