What is Serbia’s ranking in the innovation world?

Switzerland, Sweden and the USA are the leading countries in terms of innovation in the world, while Serbia ranks 53rd in the world, with its investment in innovation far greater than its performance, according to the latest index of the World Intellectual Property Organization (WIPO).

The Global Innovation Index (GII) for 2023, which was published today, analyzed the level of innovation in 132 countries, based on about 80 indicators, including investments, education, government allocations and investments in science and in the development of online products.

Although countries with developed economies are still in the leading positions, the index shows that in the last ten years, the group of economies with medium GDP has climbed the index list the fastest. Thus, China rose to 12th place, ahead of Japan at 13th and Israel at 14th place.

Serbia has improved its position by two places compared to last year and is now at 53rd, as in 2020. It is stated, however, that Serbia ranks 41st in terms of investments in innovation and 64th in terms of innovative performance.

According to individual criteria, Serbia ranks best when it comes to infrastructure (35th place), market sophistication (41st) and human capital and research (51st). According to creative output, it ranks 92nd, business sophistication 68th and institutions (57th) and these are the country’s worst results.

In the wider region, Slovenia is in 33rd place, Hungary 35th, Bulgaria 38th, Croatia 44th and Romania in 47th. North Macedonia is ranked 54th, Montenegro 75th, Bosnia and Herzegovina 77th and Albania 83rd.

Along with China, which achieved a rapid ascension on the WIPO list, in the last ten years, Indonesia, Turkey, India and Vietnam also progressed well.

WIPO states that as many as 21 countries, despite their relatively underdeveloped economies, showed better performance than expected, mainly countries in sub-Saharan Africa, Southeast Asia, the Far East and Oceania.

(Biznis i Finansije, 30.09.2023)


This post is also available in: Italiano

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