Global Innovation Index: Serbia 55th out of 132 countries

The recently published Global Innovation Index ranked Serbia 55th out of a total of 132 countries, down one place from last year. In Europe, Serbia ranks 32nd out of 39 countries.

As ICT Hub CEO Kosta Andrić notes we have to keep in mind that Europe is the part of the world with the highest concentration of countries with highly developed innovation ecosystems, from which 15 global innovation leaders come. “Actually, it is not a bad score at all,” says Andric.

The Global Innovation Index, as he explains, is an important tool for determining the innovation potential of countries, measuring their progress and assessing their competitiveness, and it is a very sensitive and accurate tool.

“The parameters are exact, measurable and comprehensive, but also variable: they adapt to changes in development itself and significant challenges, so the indicators change from time to time,” he says.

The ranking is done in seven categories:


human capital; research and development


market sophistication;

business sophistication;

technological and knowledge-based outputs;

creative outputs.

The most innovative economy in the world is Switzerland – it has topped the list for 12 years, followed by the United States of America, Sweden, the United Kingdom and the Netherlands. The importance of the index, Andrić explains, is also demonstrated by the fact that 70 per cent of the listed countries rely on that analysis when considering development and strategies, looking at how to improve the innovation ecosystem or deciding on investments or incentives.

“The index shows well whether a country has progressed or is at a standstill, overall and in individual areas. It also talks about trends, the effects of crisis periods on markets, whether anyone has managed to take advantage of them, etc,” Andrić adds.

The analysis of this year’s Global Innovation Index (carried out as part of the USAID project ‘Serbia Innovates’, which the aforementioned ICT Hub implements) shows that out of 36 upper-middle income countries that are in Serbia’s category – Serbia is in the top 10 (along with China, Brazil, South Africa…).

Andrić also points out that the fact that the Serbian S&T (Science & Technology) cluster is mentioned for the first time this year is a particularly significant thing. “It is not in the top 100 in the world, but it is visible, it is there. This is really good, very good news,’ he adds.

(Bloomberg Adria, 18.10.2022)

This post is also available in: Italiano

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