Switzerland, the United Kingdom, Sweden, the Netherlands and the United States of America are the world’s five most innovative nations, according to the Global Innovation Index 2015 (GII), while China, Malaysia, Vietnam, India, Jordan, Kenya, and Uganda are among a group of countries outperforming their economic peers.
Thailand has become less innovative in the eyes of this report, and appears to be losing out the faster-growing Southeast Asian neighbours such as Malaysia and Vietnam.
The GII 2015 looked at “Effective Innovation Policies for Development” and showed new ways that emerging-economy policymakers can boost innovation and spur growth by building on local strengths and ensuring the development of a sound national innovation environment.
“Innovation holds far-reaching promise for spurring economic growth in countries at all stages of development. However, realizing this promise is not automatic,” said World Intellectual Property Organization (WIPO) Director General Francis Gurry.
“Each nation must find the right mix of policies to mobilize the innate innovative and creative potential in their economies.”
The GII, co-published by Cornell University, INSEAD and the World Intellectual Property Organization (WIPO), surveys 141 economies around the world, using 79 indicators to gauge both innovative capabilities and measurable results.
With half of its economies in the top 40, Southeast Asia and Oceania maintained its innovation dynamism this year. While Singapore (7th) and Hong Kong (China) (11th) remain at the top of the regional rankings, the Republic of Korea (14th), New Zealand (15th) and Japan (19th) are also within the top 20. The region’s performance is also boosted by China (29th) and Malaysia (32nd), but also the positive developments in Viet Nam (52nd), Philippines (83rd) and Cambodia (91st).
Thailand was ranked 57th in the global survey.
To read the full data being the 2015 Global Innovations report click here.