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South Korea and Nordic countries dominate Bloomberg’s 2017 Innovation Index

January 20, 2017

Innovation Factory

South Korea tops the international charts overall according to Bloomberg’s 2017 Innovation Index, followed by Sweden, Germany, Switzerland and Finland. Nordic countries dominate the top 15. In contrast, Russia was dealt a huge blow by the experts, plunging 14 spots to number 26.

South Korea is ahead in research and development intensity, patent activity and manufacturing value added. This country also has a top-five ranking in researcher concentration and high-tech companies – the latter being the only category commanded by the United States. Australia tops productivity lists, Israel leads in researcher concentration and Singapore heads the rankings in tertiary efficiency.

Nordic countries continue to score high in most dimensions. Sweden has climbed to number two and Finland is now also in the top-15 of the 2017 Bloomberg Innovation Index.

This index scores the top 50 innovative economies in the world by considering a total of seven factors, such as research and development spending and concentrations of high-tech public companies. You can see the full index here.

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