Innovation: Switzerland tops world ranking again; Singapore leapfrogs Hong Kong in regional list.

SINGAPORE: Switzerland, the United Kingdom and Sweden are the most innovative countries in the world – and Singapore is Asia’s most innovative economy, according to the Global Innovation Index 2014 published on Friday (July 18).

The Republic was seventh in the index, up a position from eighth in 2013, to leapfrog Hong Kong in the regional rankings. Third in Asia was South Korea, in 16th position.

The annual rankings, published by Cornell University, INSEAD and the World Intellectual Property Organization, surveys 143 economies around the world.

“These GII leaders have created well-linked innovation ecosystems, where investments in human capital combined with strong innovation infrastructures contribute to high levels of creativity,” said the authors of the report.

“In particular, the top 25 countries in the GII consistently score high in most indicators and have strengths in areas such as innovation infrastructure, including information and communication technologies; business sophistication such as knowledge workers, innovation linkages, and knowledge absorption; and innovation outputs such as creative goods and services and online creativity.”

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