Switzerland is the world’s most innovative country. Its capacity for innovation and the quality of its scientific research institutions are just two of the factors that have enabled this small alpine country to hold onto the top spot in the World Economic Forum’s latest Global Competitiveness Index.
Swiss companies are ready to invest in research and development (R&D) and collaborate well with universities to produce an economy where innovation is high on the agenda. The index rates countries on 12 pillars of competitiveness. Countries are ranked according to each pillar, the 12th of which is ‘innovation’. Each pillar is also split into various subindexes.
Switzerland has remained top of the overall global competitiveness ranking for six years in a row.
The US comes second, which matches its second place on the overall index. The US has a vibrant innovation ecosystem. Like Switzerland, it scores highly on most of the subindexes of the pillar, except for the number of its patent applications, where it sits in 10th place.
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