Bloomberg “Innovation Index” for 2017
Bloomberg ranks world economies on basis of the “Innovation” factor which is based on number of key parameters. Despite of having scores of countries only few 100 have the data required which allows them to enter the list. This time 7 contributing factors were chosen and ranking was done for about 78 countries which has data available for atleast 6 of the listed 7 factors.
The factors were:
- R&D intensity
- Manufacturing value-added
- High-tech density
- Tertiary efficiency
- Researcher concentration
- Patent activity
Only a minor change in the ranking was seen. Among the top 50 economies which made to the list Russia witnessed the most significant change of 14 places.
South Asian, African & Southern America had least number of countries listed in the top 50. Finland made it to the top 5 and South Korea retained its top position. We expect South Korea will retain its top position for few more years as the difference between the second ranking country is stark. Its interesting to note that the economies ranking from second to 10th have very slight difference in the total score.
Brazil, Cyprus & Romania made to the top 50 this time while China retained its 21st rank.