The World Intellectual Property Organization (WIPO) has released its 2023 Global Innovation Index. It evaluated innovation levels across 132 economies focusing on a long list of criteria such as human capital, institutions, technology and creative output as well as market and business sophistication, among others. The 2023 index has found that while innovation is still blossoming, the coronavirus pandemic and the war in Ukraine have had their effect on the ranking as a range of economies and industries were severely effected.
Switzerland topped the rankings once more this year with a score of 67.6 out of 100, the 13th time it has been named the world leader in innovation. The United States comes third while Sweden is in second rank.
China is now the world’s 12th most innovative nation, up from rank 14 in 2020 and 2019 and rank 17 in 2018. China was also named the most innovative upper middle-income country ahead of Malaysia (overall rank 36) and Bulgaria (rank 38), while India (overall rank 40) came first for lower middle-income countries, followed by Vietnam (rank 46) and Ukraine (rank 55).
Source: Statista
