How innovative is your country and your region?

What influence does your country's innovative strength have on your Human Resources planning in 2023?

Which qualifications and experience are in high demand on the labour market?

Which TOP experts & executives do you still need to recruit for your company?

Since 2000, global investment in research & development (R&D) has tripled to 2.4 trillion USD.*

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 & public health to national security & industrial competitiveness, R&D plays a vital role in a country’s economic growth & innovations, impacting nearly every corner of society - either directly or indirectly.

Along with R&D spend, other key ingredients play an important role in driving progress & innovation. These include technological adoption, scientific research, venture capital activity, among others.

The graphic rank the world’s most innovative economies using data from the UN’s WIPO Global Innovation Index. The framework used for the index was designed to create a more complete analysis, comprising of 81 indicators across 7 categories to calculate a country’s score:

1: Business Sophistication

 ⪼ e.g. business R&D spend, net inflows of foreign direct investment.

2: Human Capital & Research

 ⪼ e.g. government funding per pupil, quality of scientific & research institutions.

3: Institutions

 ⪼ e.g. political stability and safety, ease of starting a business.

4: Infrastructure

 ⪼ e.g. road, hospital, school construction, energy efficiency.

5: Market Sophistication

 ⪼ e.g. size of economy’s GDP, intensity of local market competition.

6: Knowledge & Technology Outputs

 ⪼ e.g. patent applications, increase in labor productivity, spending on software.

7: Creative Outputs

 ⪼ e.g. most valuable brands, industrial design applications, trademark applications.

The 10 most innovative countries in 2022:

Switzerland (#1) ranks at the top⁠ for the 12th year in a row: intellectual property rules are considered world-class and the country attracts top talent thanks to its high quality of living.

The United States (#2) is a top spender on R&D at over 700 billion USD per year. Globally, four of the five top R&D spending companies are in America: Amazon (42.7 billion USD), Alphabet (27.6 billion USD), Microsoft (19.3 billion USD), and Apple (18.8 billion USD).

From Europe in the top 10 are: Sweden (#3), the United Kingdom (#4), the Netherlands (#5), Germany (#8), Finland (#9) and Denmark (#10).

South Korea is #6. Samsung and LG are among the largest companies in the country that collaborate extensively with academia. Singapore is #7.

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*Source: www.visualcapitalist.com/most-innovative-countries-2022/