Cancer research, meat alternatives and smart home technologies are among the major developments of our time. But which countries are world leaders in research and development, patent activity, high-tech density and everything that comes with fostering innovation? A recent Bloomberg ranking shows the most innovative countries by index value. South Korea ranks highest, followed by Germany. The U.S. is ranked in eighth place, climbing up three ranks compared to 2018.
The ranking includes factors such as research and development expenditures, the number of domestic patent applications and the number of domestic public high-tech companies. South Korea was ranked first for the second year in a row and scored 87.38 out of 100 possible points, as our chart shows. Germany is only just behind with a value of 87.30. Switzerland is also among the top 5, taking fourth place among the most innovative economies this year, after Finland, which is the country most improved in the top 10, climbing up five ranks.
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