Rich countries lead the ranking of the world’s most innovative nations. But the report also reveals what could be surprising in its innovation test, according to a variety of measures.
Switzerland, Sweden, and the United Kingdom top the Global Innovation Index, the main listing of the study conducted by Cornell University, INSEAD, and the World Intellectual Property Organization (WIPO). Meanwhile, the United States ranks. This is the top 10 of the world’s most innovative economies:
3. United Kingdom
5. United States
7. Hong Kong (China)
Innovation results today still remain highly related to income levels. “The difference between rich economies with high-income levels and low-income economies is very significant.” And it is that the 25 most innovative economies are practically the same as those of past years. And while the rankings have changed in the last three years, there are no new entrants in the top 25.
The report measures 84 criteria from 142 economies. Look at five “input” innovation indices: institutions, human capital and research, infrastructure, market and business sophistication; and the “output” indices, which are categorized as knowledge and technology or creative skills.
While richer economies produce more innovation, if the total innovation of the output indices is divided by the input indices, the list of leading countries looks very different. This means that these 10 countries are the ones that are doing the most with the resources they have; In other words, the 10 most efficient innovative economies are:
2. The Republic of Moldova
9. Costa Rica
10. The Bolivarian Republic of Venezuela
Leaders’ attitudes about innovation are key to progress. If the mindset is not there, then you are unable to really act on the multiple factors necessary to drive the country forward in terms of innovation. Furthermore, to innovate, a country needs to have educated workers.
The main ingredient behind innovation is talent.