In 1960, the U.S. made up nearly 70% of global R&D spending, and by 2020 this had fallen to 30%. From job creation and public health to national security and industrial competitiveness, R&D plays a vital role in a country’s economic growth and innovation, impacting nearly every corner of society—either directly or indirectly.Dorothy Neufeld – Mapped: The Most Innovative Countries in the World in 2022
That quote from a recent article speaks to one critical innovation ingredient. The others include technological adoption, scientific research, and venture capital activity. In what is likely to someday be viewed as the most impactful innovative period in history, these ingredients matter. In assessing the most innovative countries, the United Nation’s WIPO Global Innovation Index looks at 81 indicators across seven categories. The article provided this visual which identifies the seven categories, along with example indicators.
The 2022 Index has Switzerland at the top for the 12th year in a row. The article describes Europe as a powerhouse for fostering innovative ecosystems. Per the article, China sits just outside the global top 10, and now ranks #1 in multiple indicators, including labor productivity growth and trademarks by origin. China’s economic output per employed worker increased an impressive 4.2% annually from 2011 to 2019, on average. The article provides a breakdown by region, and commentary on the leading countries in each region.