Switzerland is the most innovative country in the world since 2010, according to the Global Innovative Index (GII) 2020 innovation ranking. The country improves its research system, human capital, and investments to create opportunities.
“Moreover, Switzerland exceeds expectations when it comes to transforming investment in innovation into high-quality output. Switzerland also distinguishes itself through the innovative spirit of its business sector, with a large share of knowledge-intensive employment and high R&D expenditure financed by the private sector,” IGE IPI stated.
Switzerland became the hotbed of innovation globally because the ideas from people are being fostered. The government enables people to suggest potential solutions. Interestingly, the government of the country, together with its academe, work hand-in-hand to develop new products and solutions. The higher education of the country is professional and pragmatic making a highly skilled labor force.
Further, the GII was obtained using 80 indicators to examine the ability of the 131 countries to innovate. Among the top 10 most innovative countries are Sweden, the United States, the United Kingdom, Netherlands, Denmark, Finland, Singapore, Germany, and the Republic of Korea.
The report from INSEAD Knowledge stated that education and openness to businesses are keys to make a country more innovative.
Despite the ongoing global pandemic, most countries around the world thrive to save their economies through investing in digital innovations.
“It is still too early to assess how different countries may manage the coronavirus crisis. It is, however, clear that all will be hit hard by the coming economic and social crisis, and emerging economies may be the most affected,” it added.