most innovative countries

The 2014 list of most innovative countries

Switzerland is first on the list of the 2014 list of most innovative countries, followed by the United Kingdom and the Sweden.

Switzerland heads the list of the most innovative countries in 2014, followed by several other European countries. The top 10 is made up of seven European countries, one from North America, and two from Asia. The United States is number six, down from last year’s number five position. The data come from the Global Innovation Index, which is compiled by the University of Cornell (Australia), the business school INSEAD and the World Intellectual Property Organization.

The index, which has been published for years, measures a series of indicators such as the number of institutions dedicated to innovation-related activities, the human capital dedicated to research, and infrastructure. The sophistication of the market and the companies in each country are other aspects considered, and the production of know-how and technology, as well as creativity are factors that influence the final score.

The list of the most innovative countries serves to highlight the importance of innovation to enable solid, sustained growth with fertile job creation. The list checks the vital signs of 143 economies, measuring 81 different indicators.

As far as the ranking is concerned, it’s important to note that the top five spots are held by European countries. Switzerland is followed by the United Kingdom and then the Nordic countries of Sweden and Finland, and then the Netherlands. The United States is sixth, just ahead of Singapore, the only Asian country to really make it into the top 10, if we consider that the other is Hong Kong (in tenth place), which despite its economic and political independence, belongs to China.

most innovative countries

Spain occupies 27th position in the ranking of the the most innovative countries of 2014. It dropped two places compared to last year’s list. The report that accompanies the ranking points out that in Spain – as well as other high-income countries – the total spending on research and development dropped over the course of 2012 and is still below the levels prior to the economic crisis.

In Latin America the country that features highest in the ranking is Barbados, although Chile is close behind. These are followed by Panama, Costa Rica and Brazil, and then Mexico, Colombia and Argentina. The report covers the situation in Brazil in greater detail, indicating that its strength lies in its efficiency ratio, as well as the sophistication of its business segment and infrastructure.

most innovative countries

Image: saturn ♄ Tables: Global Innovation Index