dotlah! dotlah!
  • Cities
  • Technology
  • Business
  • Politics
  • Society
  • Science
  • About
Social Links
  • zedreviews.com
  • citi.io
  • aster.cloud
  • liwaiwai.com
  • guzz.co.uk
  • atinatin.com
0 Likes
0 Followers
0 Subscribers
dotlah!
  • Cities
  • Technology
  • Business
  • Politics
  • Society
  • Science
  • About
  • Cities
  • Technology

The Most Innovative Economies In The World

  • February 12, 2020
Total
0
Shares
0
0
0

Singapore is the third most innovative economy in the world for the year 2020, according to this year’s edition of Bloomberg’s Innovation Index.

If you are interested in seeing the full report, you may do so here. Here, we will boil the report down to the highlights and key insights. Let’s start.

Highlights

 

Germany dethrones South Korea as the most innovative economy for 2020. Prior to this, South Korea has maintained a six-year streak at the top. This year, South Korea’s performance in innovation remains strong, ranking in second place.

Following South Korea is Singapore, Switzerland, Sweden, Israel, Finland, Denmark, US, and France.

Highlighting the top 60 economies in the world as shown above. We can see that a lot of the top economies when it comes to innovation are located in Europe. Asia also has quite a large share of top rankers for this year.

Methodology

In order to come up with the rankings, Bloomberg takes into account seven dimensions:

01. R&D spending intensity, the measure of the national gross domestic product (GDP) allocated for research and development.

02. Patent activity, which is measured in terms of resident utility filings per 1 million population and per US$ 1 million of R&D spent. The number of utility patents granted is also taken into account.

03. Efficiency of tertiary education, measured in terms of number secondary education graduates enrolled in post-secondary institutions, percentage of labour force with tertiary degrees, and percentage of science and engineering graduates in the total tertiary degree graduates.

04. Manufacturing, a measure of manufacturing added value per capita

05. Productivity, referring to a country’s research outputs

06. High-tech density, measured in terms of the number of domestically domiciled high-tech companies, including but not limited to:

    •  aerospace and defense,
    • biotechnology,
    • hardware, software,
    • semiconductors,
    • Internet software and services, and
    • renewable energy companies

07. Researcher concentration, measured by counting the number of professionals (including Ph.D. students) involved in R&D per 1 million population.

From the summarized scores across these dimensions, the Bloomberg Innovation is formed. The Index is a scale from 0 to 100. The closer a country’s score is to 100, the better it is in terms of innovation.

Gains and losses

While South Korea lost to Germany with a score of 88.21, it didn’t score too far behind. South Korea gained a very close 88.16. According to Bloomberg, South Korea suffered from a slump in the productivity dimension, only ranking 29th compared to the previous edition’s 18th.

In spite of being at the top, Germany still has a lot to improve. The country did score three top-five rankings in the dimensions: value-added manufacturing, high-tech density, and patent activity. However, Germany can still work on it’s services innovation.

Germany can also diversify the allocation of the R&D budget. Right now a third the budget is dedicated to the auto industry. If this industry suffers in the future, then the innovative strength of Germany will similarly take damage.

Meanwhile, Singapore reclaimed the third spot, a position it held two years ago. Bloomberg attributes this jump to the country’s gains in productivity and value-added manufacturing. Singapore has also retained the top spot for tertiary education efficiency.

A need for consistency

The United States which attained the first spot in the Index in its debut back in 2013 fell to 9th place this year. Last year it was positioned in the 8th spot.

“Innovation is a critical driver of growth and prosperity. […] the U.S. drop, is a reminder that without investment in education and research, trade tariffs aren’t going to maintain America’s economic edge,” according to Bloomberg chief economist Tom Orlik.

This is very much applicable not only for the US but also the whole world. In order to maintain excellence in innovation, there is a need to constantly learn and improve. Without this effort, a country will inevitably fall behind.

Total
0
Shares
Share
Tweet
Share
Share
Related Topics
  • Economy
  • Innovation
  • Research & Development
majulah

Previous Article
  • Lah!

Designers To Get Greater Assurance In Industrial Designs Protection As Singapore Signs On To The Locarno Agreement

  • February 12, 2020
View Post
Next Article
  • Cities
  • Technology

The Most Innovative Economies In The World

  • February 12, 2020
View Post
You May Also Like
View Post
  • Gears
  • Technology

Apple Vision Pro upgraded with the powerful M5 chip and comfortable Dual Knit Band

  • Dean Marc
  • October 15, 2025
View Post
  • Cities

Politicians love comparing NZ’s economy to Singapore or Ireland – but it’s simplistic and misleading

  • dotlah.com
  • September 21, 2025
View Post
  • Gears
  • Technology

Meet Samsung Galaxy Tab S11 Series: Packing Everything You Expect From a Premium Tablet

  • Dean Marc
  • September 4, 2025
View Post
  • Technology

Malaysia’s ‘ASEAN Shenzhen’ needs some significant legal reform to take off — here’s how

  • dotlah.com
  • August 25, 2025
View Post
  • Gears
  • Technology

Samsung Electronics Debuts Odyssey G7 Monitors, Showcasing Top Games on Its Displays at Gamescom 2025

  • Dean Marc
  • August 20, 2025
View Post
  • Artificial Intelligence
  • Technology

Thoughts on America’s AI Action Plan

  • Dean Marc
  • July 24, 2025
View Post
  • Technology

ESWIN Computing launches the EBC77 Series Single Board Computer with Ubuntu

  • dotlah.com
  • July 17, 2025
View Post
  • Gears
  • Technology

Samsung Galaxy Z Fold7: Raising the Bar for Smartphones

  • Dean Marc
  • July 9, 2025


Trending
  • citi-io-uk-border-004436 1
    • dotZero
    • Op-Ed
    • Outsights
    • People
    OpEd: The Calculated Dance of Immigration in the UK
    • November 25, 2023
  • 2
    • Lah!
    Creating Our Low Carbon Energy Future Together
    • May 6, 2020
  • 3
    • Lah!
    Converting Tamarind Shells Into An Energy Source For Vehicles
    • July 17, 2021
  • 4
    • Technology
    Big Tech Antitrust Hearings, A NOT Wallstreet Or Mainstreet Viewpoint
    • August 3, 2020
  • 5
    • Cities
    Inversion Solutions — Tackling Utah’s Pollution Problem
    • February 28, 2020
  • 6
    • Cities
    The Eras Tour: The Intricate World-Building Behind Taylor Swift’s Most Ambitious Sets Ever
    • February 25, 2024
  • The-Infinity_of_Numbers___by_Johimja__e1abe88e-12df-4a5c-b256-763b9a131ce6 7
    • Science
    • Technology
    Exploring Dedekind Numbers – Infinite Patterns in Mathematics
    • July 13, 2023
  • 8
    • Lah!
    CapitaLand Investment Makes Debut On The Singapore Exchange As One Of The World’s Largest Listed Real Estate Investment Managers
    • September 22, 2021
  • black-history-month-banner 9
    • People
    Black History Month: What Is It And Why Do We Need It?
    • February 8, 2021
  • 10
    • People
    How To Look After Each Other In The Time Of Physical Distancing
    • August 23, 2020
  • 11
    • Lah!
    AMTD, Xiaomi Finance, SMU And ISS Join Hands To Nurture Digital Finance Leaders
    • January 29, 2020
  • 12
    • Lah!
    Regenerating Nature In Our Built Environment
    • January 28, 2020
Trending
  • Bluetooth speakers 1
    Best Bluetooth Speakers Under $200 (2025 Edition)
    • October 16, 2025
  • 2
    Apple Vision Pro upgraded with the powerful M5 chip and comfortable Dual Knit Band
    • October 15, 2025
  • 3
    Apple unveils new 14‑inch MacBook Pro powered by the M5 chip, delivering the next big leap in AI for the Mac
    • October 15, 2025
  • 4
    Apple introduces the powerful new iPad Pro with the M5 chip
    • October 15, 2025
  • 5
    Singapore’s national identity excludes those who don’t look like a ‘regular family’
    • October 9, 2025
  • Smart Watch 6
    Best Smartwatches, Your Gateway to Health Monitoring and Everyday Use
    • October 5, 2025
  • Cooking pots and pans 7
    Best Pots and Pans 2025: All-Season, All-Purpose Picks for Every Kitchen
    • September 23, 2025
  • 8
    Politicians love comparing NZ’s economy to Singapore or Ireland – but it’s simplistic and misleading
    • September 21, 2025
  • Kitchen Knives - Best All-Around Picks in 2025 9
    Kitchen Knives : The Surgeons of Cooking – Best All-Around Picks in 2025
    • September 15, 2025
  • 10
    Apple unveils iPhone 17 Pro and iPhone 17 Pro Max, the most powerful and advanced Pro models ever
    • September 9, 2025
Social Links
dotlah! dotlah!
  • Cities
  • Technology
  • Business
  • Politics
  • Society
  • Science
  • About
Connecting Dots Across Asia's Tech and Urban Landscape

Input your search keywords and press Enter.