The following countries are worth paying attention to in the future, South Korea, Singapore, Israel, Ireland, Finland, Denmark, Austria, and Switzerland.
South Korea became the most innovative country in the world, the US dropped out of the TOP 10, and Germany slipped back to fourth place.
Since 2013 Bloomberg has been making its Innovation Ranking Index, with South Korea once again becoming the world’s most innovative nation in 2020.
Second place went to Singapore, mainly due to its universities and the high added value of local manufacturing. Switzerland came in third, Germany slipped back to fourth, and it is no coincidence that several in the country criticize the lack of a comprehensive strategy for the technologies of the future.
South Korea has been prominent in terms of patents, research and development and the added value of manufacturing. For South Korea, innovation, research and development, and a green economy are vital to the country’s future.
South Korea has been first on Bloomberg’s Innovation Index seven times in the last 9 years.
Interestingly, most of the small countries are at the forefront. It has become realized that in the age of knowledge, small countries can become big. This is especially true for South Korea and Singapore, as they are among the top ten most influential countries in the world due to their technological development. However, in recent years, Israel, Ireland, Switzerland, Austria, Finland, Denmark have also achieved outstanding results.
The most innovative economies in the world in 2019
Forrás: Bloomberg, Visual Capitalist
The United States, topped the list in 2013, and slipped back to the 11 th place seven years later due to declining university scores. However, there has also been a territorial reorganization within the United States. The success of Silicon Valley will not last forever, as it is already being noticed in Texas, especially in Austin.
The Bloomberg Innovation Index examines seven groups of factors: the intensity of research and development, the value added of manufacturing, the number of listed high-tech companies, the efficiency of universities, productivity, and the number of researchers and
patents.
Hungary is in the top 30 in the world, improving its place in the Bloomberg Innovation ranking.
Fascinatingly, we obtained the lowest score among the sub-indices, 14 on the 100 scale, for the local added value of production, and the highest, 53, for the efficiency of the university sphere.
In another major Global Innovation Index, Hungary ranks 35th out of 131 countries surveyed in the world.
According to a research report published in November 2020, Hungary was able to maintain its place among the most innovative countries in the report of Cornell University, INSEAD and WIPO.
Hungary is ahead of Latvia, Lithuania, Bulgaria, Poland, Slovakia, Greece, Croatia, Ukraine and Romania in the 2020 ranking, but also Russia. From our regions, the Czech Republic and Estonia are ahead of Hungary in innovation.
A few interesting facts bout the Hungarian results:
⦁ Hungary ranks in the 35 th place in innovation, however,
⦁ ranked in the 22 nd place in knowledge and technology performance.
⦁ In terms of institutions, Hungary ranked 43 rd , including the business environment and regulation.
⦁ Within the institutional pillar, Hungary ranks 29 th in terms of political stability.
⦁ However, in the simplicity of establishing a company, only in the 70 th place.
⦁ Ranked 89 th in market maturity.
⦁ Ranked in the 36 th place in terms of human knowledge capital and research (Includes education, higher education and research and development).
⦁ Ranked in the19 th place out of 131 countries in environmental sustainability.
⦁ Hungary is in the middle, in the 57 th place, in university-industry research collaborations, so it is worth improving here in the future.
⦁ In terms of clusters, Hungary took the 65t h place.
⦁ It is outstanding that Hungary is in the 9 th place in terms of the strength of the high-tech industry, and it is also in the 10th place in the net high-tech exports.
⦁ We are also ranked 9 th among the ten best countries in the world in the export of creative products.
⦁ In the export of infocommunication services, however, Hungary only ranks in the 59 th place.
A very interesting and thorough summary of the Global Innovation Index summary has been published in the Mandiner Markonom section, which can be read HERE.
Global Innovation Index 2020
Forrás: Cornell University, az INSEAD és a WIPO
Both innovation indices confirm to us that it is worthwhile to build on technology, creative industries, sustainability, the green economy, and look at examples from other "small countries" of how technology has become great in the age of mergers.
The author is the chairman of the board of trustees of the Pallas Athene Domus Meriti Foundation (PADME).
