The ongoing processes of economic, social and cultural transformation have been accelerated by the impact of information and communication technologies. The pace of adaptation of these new technologies and the utilization of their potential in accelerating economic development has varied from country to country. For this reason the United Nations Economic Commission for Europe created a system of monitoring the development of information and communication technologies and knowledge intensive-economic activities. This analysis is contained in the country readiness assessment reports compiled by national experts, to provide detailed information on the countries potential, as well as a current picture of the approaches and solutions taking place with regards to developing a knowledge based economy.