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TEMPO.CO, Jakarta - Innovation is a major driving force for a country to flourish amidst the world’s disrupted ecosystem in recent years. In a pursuit to measure innovation by country, the Global Innovation Index (GII) 2024 provides a comprehensive report. These top 10 most innovative countries prevail on the seven considerable innovation pillars: knowledge & tech outputs; human capital & research; business sophistication; market sophistication; creative outputs; infrastructure; and institutions.
Top 10 Most Innovative Countries
This article discovers the 10 most innovative countries in the world based on the report published by the Global Innovation Index 2024.
1. Switzerland
Switzerland is the most innovative country in the world this year. It successfully triumphed with 67.5 points within the index. Among other contenders, Switzerland stands out in the field of research and innovation.
Citing the official page of Switzerland’s State Secretariat for Education, Research, and Innovation, the country has been continuously spending hefty funds on the proactive work of researchers, the principle of competition, and international cooperation.
2. Sweden
Lagging just a place behind, Sweden garnered 64.5 points for its reputation in the green technology field. Moreover, the country has been a prominent figure within the education scene. Its competitiveness was largely reflected in the compulsory schooling law adopted in 1842.
Sweden invests more than 3 percent of its total GDP in research and development to further promote the life sciences field.
3. United States
For six consecutive years, the United States never leaves the top three spots of the most innovative countries list. The country’s admirable high-tech companies like Google, Apple, Microsoft, and Facebook play pivotal roles in global technology.
According to the World Population Review, the United States excels in other technology sectors like telecommunications, space technology, and pharmaceuticals. As of 2023, the United States has one of the most technologically advanced militaries in the world.
4. Singapore
As the only Southeast Asia representative, Singapore garnered 61.2 points within the scoring system. For the past seven years, the nation has ranked first as Asia’s leading country on the Global Innovation Index.
The Research, Innovation, and Enterprise (RIE) plan will see the government’s $25 billion investment in the development of a knowledge-based and innovation-driven economy and society, Visit Singapore reports.
5. The United Kingdom
The United Kingdom has an impressive score of 61 points across the seven innovation key factors. Forbes has named the U.K. as one of the most business-friendly environments of Europe’s major economies. As of 2017, there were about 590,000 businesses opened in the United Kingdom.
The country’s ambition in innovation and research sectors is encouraged through its world-class universities, which include Oxford, Cambridge, University College London, and Imperial College London.
6. South Korea
Ranked sixth on the list, South Korea won 60.9 points due to several key factors. Based on OECD reviews of the country’s innovation policy throughout 2023, South Korea disburses one of the largest funds in the fields of human capital and research.
Among OECD countries, South Korea demonstrates the highest share of tertiary graduates, with the majority of them coming from the science, technology, engineering, and mathematics (STEM) disciplines. The younger generations show a particular excellence in digital and ICT technologies.
7. Finland
Finland remains a pioneer in many sectors of life, ranging from attentive healthcare services to impressive education systems to thriving innovation ecosystems. Ranking seventh, the country has a score of 59.4 points according to the GII 2024.
Finland has been proving its tremendous contribution to innovation even in the 1970s when it invented the heart-rate monitor. Additionally, Finland was also the first country to support a 5G network.
8. Netherlands
The Netherlands is among the world’s most innovative countries, promoting nine top sectors that include horticulture and propagation materials, agri-food, water, life sciences and health, chemicals, high tech, energy, logistics, and creative industries.
The government encourages innovation in the abovementioned sectors by holding national icon competitions, innovation expos, and national science agendas, as well as creating the Volg Innovative database.
9. Germany
As of 2024, Germany garnered 58.1 points across key indicators presented by the GII. The country’s manifested innovation is best described through the leading automotive companies and suppliers like BMW, Daimler, Volkswagen, Audi Bosch, Schaeffler, and ZF Friedrichshafen.
10. Denmark
Denmark has a high number of patents in many fields, such as biomedicine, pharmaceuticals, food, and agriculture. The Danish pharmaceutical company Novo Nordisk supplies half of the world’s insulin for diabetics, per Denmark’s official page.
These most innovative countries in the world combine government support, ambitious business sectors, and vast research and development industries into world-class innovation.
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