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The internet speed and connectivity have a significant impact on a country’s economy. The internet speed statistics reveal how having faster internet can boost a nation’s overall GDP. Find out about the countries with the highest internet speeds and more in this article.
A fast and uninterrupted internet connection is essential for digital innovation, global connectivity, and economic growth. In fact, a country’s internet speed ranking can be a key indicator of its technological infrastructure. The ranking is based on the broadband data from the Speedtest Global Index.
In the last few decades, there have been significant changes in how and why we use the internet around the world. In 2024, more than 97% of Americans said they use the internet. That is around 333.1 million people, an increase of 51 million users since 2015. This statistic also reveals that about 9.78 million Americans do not use the internet. In fact, more than 5 million households still do not have a computer in the USA.
According to a 2024 report by Speedtest.net, the USA’s median download internet speed was 242.38 Mbps. At that time, it was the 6th fastest median internet speed in the world. To put things into perspective, the average download speed in the United States was 31 Mbps in 2013, putting the country in 25th position globally. Needless to say, the country has made massive improvements in terms of internet services in the past 12 years.
With rising smartphone usage, mobile internet traffic now accounts for a significant portion of global data consumption, influencing internet speed rankings and driving innovation in mobile broadband infrastructure across countries.
Research conducted by Ericsson, Arthur D. Little, and Chalmers University of Technology confirms that increased broadband speed contributes significantly to economic growth. The research conducted in 33 OECD countries shows that doubling the broadband speed for an economy increases GDP by 0.3%, which is equivalent to USD 126 billion. Let’s try to understand how exactly improved internet speed impacts a country’s economy.
High-speed internet directly improves productivity across industries. When businesses have access to faster internet, they can perform tasks like data transfer, cloud collaboration, and communication more efficiently. Also, employees spend less time waiting for downloads or uploads and more time producing actual results. Industries that rely on digital solutions like software development, financial services, media, and logistics can get real-time updates, smoother project management, and quicker troubleshooting with faster connections.
When backed by a reliable internet connection, IoT devices can be deployed more effectively in agriculture and manufacturing, streamlining monitoring and automation. Even in the education sector, faster internet reduces lag in virtual classrooms, offering seamless learning and better engagement. Over time, these small productivity gains compound, helping a country’s economic growth. With better internet connectivity, businesses become more agile and less susceptible to technical delays, leading to faster scaling, more innovation, and a competitive edge.
According to the World Economic Forum, the number of global digital jobs that can be performed remotely from anywhere is expected to rise by roughly 25% to around 92 million. However, the success of such remote work hinges on internet speed and reliability. High-speed internet allows professionals to work from virtually anywhere, allowing access to digital jobs in sectors like marketing, IT, design, customer service, and finance. For a country, this decentralization of employment helps reduce urban crowding, lower infrastructure demands, and create job opportunities in rural and underserved areas.
Better internet connectivity also supports the rise of freelancing, online entrepreneurship, and gig-based platforms. It will also help remote workers avoid poor video conferencing experiences, file-sharing delays, and difficulty accessing cloud platforms. This rise in remote work and digital jobs can also help countries tap into international contracts and foreign currency earnings. Ultimately, higher internet speed empowers the digital workforce and ensures inclusivity in the evolving global economy.
Investors, especially in tech and digital industries, often evaluate internet infrastructure before investing their funds. Countries with high-speed internet are more likely to set up startups, tech hubs, outsourcing centers, and multinational offices. Reliable and fast internet infrastructure often reflects the country’s involvement in spearheading digital transformation. Tech giants, fintech firms, and service-based companies also require dependable bandwidth to operate efficiently.
Without proper internet connectivity or infrastructure, countries may fail to attract potential investors. By offering better digital infrastructure, a country may reduce operational risks for investors and facilitate smoother regulatory reporting, fintech transactions, and communication. Since foreign direct investment (FDI) is a key driver of economic growth, faster internet indirectly boosts a nation’s ability to attract and retain this investment.
The e-commerce industry thrives on fast internet as it enables quicker transactions, data transfer, and customer engagement. With a high-speed internet connection, businesses can operate responsive online stores, offer real-time customer services, and quickly process online payments. It further facilitates smoother logistics coordination through tracking systems, inventory management tools, and delivery apps. For consumers, faster internet offers seamless browsing, quicker checkouts, and fewer abandoned carts due to lag or site errors.
Countries with high-speed internet have witnessed a boom in online retail, with even small and medium enterprises accessing larger markets through platforms like Amazon, Shopify, and more. This development also helps local artisans and producers to market their products globally, driving micro-entrepreneurship. This surge in digital transactions leads to more tax revenues, greater consumption, and the emergence of ancillary industries like payment gateways, digital marketing, and logistics services.
Global ecommerce statistics reveal rapid growth driven by faster internet, with online sales reaching trillions. High-speed connectivity fuels seamless transactions, empowering businesses of all sizes to reach global consumers efficiently.
Fast internet also plays a crucial role in modernizing public services and improving governance. With a reliable digital infrastructure, governments can offer faster access to services like digital ID registrations, tax filings, welfare disbursements, telehealth, and online education. This development enhances efficiency while reducing corruption and bureaucratic delays by minimizing in-person processes. High-speed internet also allows better communication between departments, faster decision-making during emergencies, and improved data analytics for policy development.
Citizens also benefit through convenience, transparency, and inclusion, especially those living in remote or marginalized regions. At the same time, digital governance reduces administrative costs over time, allowing public funds to be reallocated to other development areas. Countries that successfully digitize their services often see higher citizen satisfaction, improved public trust, and better international rankings in the ease of doing business and innovation indices.
From multi-gigabit speeds to open-access models and AI-driven optimization, the global internet broadband industry is not just growing but transforming. Here are some of the major global internet speed trends to watch out for in 2025 and beyond:
The global internet speed rankings continue to reveal much about a country’s digital infrastructure and technological advancements. According to the latest data from Statista, Singapore leads the world in fixed broadband internet download speeds worldwide, with an impressive average of 345.33 Mbps.
The rankings reflect the genuine experience of users around the world and offer crucial insight for travelers, digital nomads, and companies evaluating global connectivity. Let’s take a look at all the top-ranking countries that offer the fastest internet speeds in the world:
Singapore continuously ranks at the top for high fixed broadband speed. As of May 2025, the country enjoys an average download speed of 372.02 Mbps, as reported by Speedtest.net. In terms of mobile internet speed, Singapore ranks at 15 with an average internet speed (download) of 163.29 Mbps. The country is actively upgrading its infrastructure to offer even faster speeds. The focus on high-speed internet is part of Singapore’s broader strategy to enhance its digital competitiveness.
In the latest Speedtest Global Index (May 2025), the UAE has slipped to 3rd place from 2nd. Currently, the country enjoys an average download speed of 314.49 Mbps in fixed broadband. In terms of mobile internet speed, it ranks at the top with an average download of 539.84 Mbps.
Currently ranking 4th in the Speedtest Global Index (May 2025), Hong Kong’s average fixed broadband download speed is 310.24 Mbps. In terms of mobile internet, it is ranked 49th with an average download speed of 87.84 Mbps.
In the latest Speed Global Index, France has moved up to the 2nd position in the fixed broadband category. As of May 2025, the country enjoys an average internet speed of 315.98 Mbps (download) for fixed broadband. In the mobile internet service category, the country ranks 22nd in the world, with an average download speed of 143.62 Mbps.
With an average download speed of 297.50 Mbps for fixed broadband, Iceland holds the 6th spot in the latest Speedtest Global Index ranking. Its mobile internet speed ranking is not listed in Speedtest’s latest update. As per SpeedGeo.net, the country enjoys an average download speed of 187.6 Mbps in the mobile internet segment.
Chile stands at the 5th position in the Speedtest Global Index for fastest fixed broadband speed. As of May 2025, the country has an average download speed of 297.75 Mbps and a low latency of 5 ms. In the mobile internet speed category, it stands at the 52nd position with an average download speed of 79.95 Mbps.
As per the Speedtest Global Index, the United States currently holds the 7th position in terms of average fixed broadband speed. The average download speed for fixed broadband across the US is 289.34 Mbps, as of May 2025. When it comes to mobile internet speeds, the country ranks 13th with an average download speed of 170.81 Mbps.
In the latest rankings of fixed broadband speeds by Ookla (Speedtest Global Index), Thailand stands at the 15th position. It currently (as of May 2025) offers an average download speed of 247.60 Mbps. The mobile internet speed in this country puts it at the 39th position in the rankings. You can enjoy an average download speed of 107.35 Mbps while using mobile internet in Thailand.
Ranked 10th in the Speedtest Global Index for fixed broadband speed, Denmark offers an average download speed of 255.82 Mbps. It also ranks 9th in the mobile speed category with an average download speed of 202.67 Mbps.
In the latest update of the Speedtest Global Index, Spain sits at the 14th spot in the list. The country offers an average download speed of 248.12 Mbps. In terms of mobile internet speed, the country holds the 56th position, with an average download speed of 75.14 Mbps.
The SpeedTest Global Index also highlights the change in global internet speed since last year. For fixed broadband, the global average for download speed was 93.66 Mbps in May 2024, which has risen to 102.48 Mbps in May 2025. The annual change in mobile internet speed is even more surprising. The global average for mobile internet download speed has risen from 55.06 Mbps in May 2024 to 92.82 Mbps in May 2025.
From infrastructure choices to policy decisions, there are several key elements that contribute to a country’s internet speed. Understanding these factors can help explain why some regions outperform others in digital connectivity.
Widespread use of fiber-optic cables enables faster and more stable connections, reducing latency and increasing bandwidth for both households and businesses. As of 2024, Korea, Japan, Iceland, and Spain are leading the way with the highest fiber penetration rates of 89%, 86%, 85%, and 84%, respectively.
5G networks significantly boost mobile internet speeds, especially in urban areas, enhancing access to high-speed connectivity on smartphones and other wireless devices. According to Ericsson, the global 5G population coverage reached 55% at the end of 2024.
The global internet service provider (ISP) market size is expected to reach USD 1300.87 billion by 2033 from USD 945.14 billion in 2024. When multiple internet service providers compete, it drives innovation, improves service quality, and often leads to lower prices and faster speeds for consumers.
Public investments and pro-digital policies of the government also encourage broadband expansion, especially in rural areas. These initiatives can improve national internet infrastructure and overall speed.
Countries with dense urban populations or flat terrain often find it easier and more cost-effective to deploy high-speed internet infrastructure efficiently.
From boosting productivity to enhancing government services, fast internet shapes how nations compete and thrive. As the world becomes more reliant on digital infrastructure, countries prioritizing high-speed connectivity will be better positioned to unlock economic potential and ensure long-term development for their citizens.
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