Australia has fallen to 60th in global internet speed rankings. If we fell to 60th in the Olympics medal tally there'd be a national outcry. Just a few years ago we were 30th in terms of average peak internet speed, which is a key measurement of broadband performance.

Within our region we came eighth (even New Zealand is two places ahead of us). Singapore, with whom we are destined to be in serious competition as an Asia-Pacific innovation hub, already has internet speeds 100 times faster than ours.

The bad news is delivered in the latest State Of The Internet report from content delivery network provider, Akamai.

There's some good news. Both our average and peak internet speeds have increased by 11 per cent and 6.4 per cent year-on-year, respectively. However, that's a bit like kicking six unanswered goals in the last quarter of an AFL match when you're 50 points behind. It might make a few players feel better but it still means you lost the game.