After Google invested millions to improve Internet speeds, the company has compiled a report of countries to see who ranks on top. Surprisingly, Slovakia is the fastest when it comes to desktop speeds. Even beating South Korea or Japan.

Google's engineering director, Arvind Jain, monitors internet-access rates - from offices to airport lounges - looking for ways to speed up connections. Google aims to unlock billions of dollars in e-commerce and online advertising, as people don't view ads when they are waiting for pages to load. That's resulted in less revenue.

"There's a clear correlation between speed and the success of your online business," Jain said.

Often web pages aren't designed for wireless devices, Bloomberg reported, as the sites may have to load high-resolution pictures or data-intensive effects.

If websites don't load for a while, customers can give up on loading the website or making a purchase. Forrester Research said twice as many mobile phone users than desktop users abandon websites for reasons such as sluggishness. This also results in lost revenue for companies such as Google.

To fix the problem, Google is working on its mobile browser. It is also introducing technologies that help site owners to see the connection between a site's performance and sales. For business, it may result in money being spent to speed up services.

Faster mobile site loads could also increase mobile-commerce sales in the U.S. by around 10 percent - or about $600 million a year - Forrester analyst, Sucharita Mulpuru, said. Almost half of mobile users are unlikely to return to a Web site if the Web site was hard to access.

A 30 percent improvement in mobile Internet speeds could lead to a 15 percent rise in ad sales, Trevor Healy, CEO of mobile ad provider Amobee Inc, said.

U.S. mobile advertising spending will reach $2.61 billion this year, up from $14.5 billion in 2011, according to EMarketer.

In Google's measurements of Web speeds around the world, it measured two categories: desktop speeds and mobile speeds, and who was the fastest and slowest in each.

In the Top 10 Fastest Desktop Speeds (in seconds), the Slovak Republic topped the list at 3.3 seconds. South Korea, at 3.5 seconds, and Czech Republic, at 3.7 seconds, ranked 2^nd and 3^rd respectively, Bloomberg reported.

The bottom three countries in desktop speeds (in seconds) were Indonesia (20.3), Philippines (15.4) and India (15.1).

In mobile speeds (in seconds) list, top 3 countries are South Korea (4.8), Denmark (5.2) and Hong Kong (5.9) while bottom three countries are United Arab Emirates (26.7), Saudi Arabia (21.2) and Thailand (17.4).

U.S. ranked somewhere in the middle in both the lists - a desktop user has to wait for 5.7 seconds on an average for a page to load, while it takes about 9.2 seconds for a mobile device user to load a page.

(reported by Jonathan Charles, edited by Dave Clark)