Leading Asian countries are famous not only for their ancient culture and special architecture. They have something in common, which is receiving increased attention from governments and large corporations. And his name is innovation. Three states of East and Southeast Asia immediately fell into top 10 most innovative countries in the world 2019 according to Bloomberg news agency.
The index ranks countries based on seven metrics using data sourced from economic institutions such as the World Bank and the IMF. Metrics include:
- research and development (R&D) expenditures of total GDP,
- productivity (GDP in relation to the number of employees and the number of hours worked);
- technological capabilities (production of added value, taken as a percentage of GDP);
- the prevalence of high-tech public companies;
- the effectiveness of higher education;
- number of researchers per million inhabitants;
- number of granted patents as a percentage of the world volume.
Here's what the top 10 most innovative countries of 2019 look like.
10. France
We used to think of France as a country with excellent cuisine and winemaking. However, there is another area dominated by the country of Cesanne and Parmesan. And you, of course, already guessed that this is an area - innovation. Even during the 2008 crisis, the French government did not cut, but rather increased allocations for research and grants, thus increasing the number of jobs in the research sector.
Last year, $ 62.2 billion was spent on science in France. For comparison: in Russia this amount was $ 39.9 billion.
9. Japan
Like South Korea, Japan is focused on receptiveness to world science and technology innovations. In addition, the government of the Land of the Rising Sun pays great attention to the coordination of various sectors of the economy and the scientific and technical industry.
The most developed fields in Japan are: medicine, high technology, robotics, automotive, energy conservation and space exploration.
Last year, $ 168.6 billion was allocated from the country's budget for science.
8. USA
In 2018, this country ranked first in research and development spending ($ 511.1 billion) according to the Higher School of Economics. Even China had less R&D spending ($ 451.2 billion).
Among many other initiatives, the American innovation strategy focuses on education, energy and entrepreneurship.
Curiously, last year America dropped out of the Bloomberg Innovation Index, lacking educational points.
7. Sweden
Having shown a negative trend (falling from second to seventh position), Sweden nevertheless remained in the top 10 innovation countries of 2019.
The strengths of Sweden and other Nordic countries are R&D, research concentration and patenting activity. Sweden is one of the leading funders of research and development in Europe with a focus on medicine and bioscience.A variety of Swedish organizations and institutions (such as Finn Upp and Snilleblixtarna) are working to stimulate youth interest in technology and entrepreneurship.
6.Singapore
Due to scarcity of land and natural resources, innovation is critical to Singapore's economic growth. This is reflected in plans to transform the city-state into a “living laboratory” in which new ideas for the cities of the future will be tested.
5. Israel
Israel got fifth place mainly due to patent activity (fourth place overall, according to Bloomberg). The country received particularly high marks in terms of research and development intensity (first place), concentration of research personnel (second place) and high-tech density (fifth place).
4. Switzerland
Innovation is as much an integral part of Switzerland as cans and chocolate. It was in this country that cellophane, the Panthenol burn remedy, an electric toothbrush and a solar-powered manned aircraft appeared. Switzerland has the highest patent rates of the top ten most innovative countries
Priority is given to the quality and accessibility of education in the country. Swiss universities from year to year occupy the first positions in ratings of the best educational institutions... And every year 70 percent of Swiss youth expand their employment opportunities by choosing one of the many training programs offered by global corporations including Credit Suisse and Swisscom. This is just one of the reasons why Switzerland's unemployment rate is only three percent and one of the lowest in the world.
3. Finland
Finland is known as one of the most modern and innovative countries in Europe and has become a popular destination for international students with its world-renowned education system. Many Finnish universities enjoy an impeccable academic reputation. First of all, it is the University of Helsinki, the oldest and largest university in the country. Finland's strong point is research cooperation between universities and industry.
And this northern country has very ambitious plans related to artificial intelligence. It was started by a private initiative jointly promoted by the University of Helsinki and the consulting firm Reaktor.
The Open Free Online Course “Elements of AI” was available to anyone interested in understanding the fundamentals of AI and its application in everyday life and production. This initiative was then supported by the government and incorporated into the national strategy for artificial intelligence. Now the country's authorities are planning to train at least 1% of the population in "AI Elements".
2. Germany
Thanks to the growth of indicators such as technological capabilities and intensity of research, Germany nearly overtook the winner of the ranking, South Korea.
But Jürgen Michels, a leading economist at Bayerische Landesbank, Bavaria's largest commercial bank, called Germany's growth "shaky"; explaining this by the fact that the country lacks qualified personnel and a change in immigration policy. To oust South Korea from the innovation pedestal, Germany needs to improve its approaches in the sectors related to diesel fuel, digital communications and artificial intelligence.
1. South Korea
The six-time champion of the Innovation Index next year may lose ground to Germany on the heels. Moreover, in the area of patent activity, South Korean indicators were lower than before.
To compete successfully with neighbors such as China and Japan, South Korea has embarked on an industry-leading R&D funding and startup incentive program. However, experts believe that in order to maintain a leading position in innovation, South Korea needs to go beyond “highly concentrated large chaebols” or family conglomerates.
In 2018, the Republic of Korea spent $ 79.4 billion on science.
Complete list of the world's most innovative countries 2019
Although Russia did not make it into the top ten, or even the top twenty innovative countries, it managed to get into the top 30 (27th place). In 2018, she was on the 25th line.