These Are the 5 Most Innovative Nations in the World, But United States Is Not One of Them
There’s no doubt that the United States is one of the most influential and powerful countries on the planet. It doesn’t always come out on top though. One of the titles the country failed to nab is the one for the ‘most innovative nation in the world’. In fact, it didn’t even break into the list’s top five. These are the countries that edged over it, according to Bloomberg’s Innovation Index.
Topping the rankings is Germany. The European country emerged as the number one nation scoring high on Bloomberg’s criteria from manufacturing capability to spending on research and development.
It managed to beat out South Korea, which has held the spot for six years. Economist Cyrus de la Rubia attributes this victory largely to its automotive industries and mechanical engineering sector. Despite this recognition though, de la Rubia believes that Germany can still improve especially in terms of education as it serves as the cornerstone for higher positions in the future.
Although it fell in rank, South Korea still is a strong contender. What the Asian country lacks in natural resources it makes up for with its thriving technology sector. It is home to industry giants like Hyundai Motors, Samsung Electronics, and LG Electronics. Perhaps another factor in its current success is its will to keep its lead ahead of its economic superpower neighbor China.
Singapore leaped three places up from its previous rank from 2019’s innovator list. This ascent is reportedly thanks to advancements in value-added manufacturing and productivity. Meanwhile, economist David Mann shares that these successes are indicative of the country’s commitment towards adapting to its aging population.
Coming in at the fourth spot is Switzerland. The European also boasts of being one of the Global Innovation Index’ top contenders. Experts point to the nation’s pharmaceutical giants Hoffman-La Roche and Novartis as the contributing factors to its scoring high when it comes to value-added manufacturing. Going into specifics, Switzerland ranked among the top three when it comes to the researcher concentration and research and development density criteria.
Completing the list’s top five is Sweden. The country has been consistently making its presence known on Bloomberg’s index since it was first published in 2013. It was actually the runner-up during the 2018 edition of the list doing well in both the manufacturing category and technology sector.
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