Switzerland still the most innovative economy in the world
Switzerland has once again been named the most innovative country in the world in 2022, according to the Global Innovation Index (GII) published on September 29.
The World Intellectual Property Organization (WIPO) based in Geneva, Switzerland publishes this report on a yearly basis, this being the 15th year it has been released, with the USA in second place followed by Sweden, the United Kingdom and the Netherlands.
The index measures innovation using criteria such as institutes, human capital and research, infrastructure, investments, adaptation and dissemination of knowledge, and creative performance. According to the country report for Switzerland, its GDP performance is above expectations. The balance is positive with regard to the conversion of innovation investments into innovation output as well. The report's list of innovative top performers names Roche in 8th place, Novartis in 18th and Nestlé in 96th, all of these companies with roots in Switzerland. Furthermore, the top three companies by global market value also hail from Switzerland: Nestlé, UBS, and Roche.
Switzerland’s strongest criteria, i.e. those for which it stands in first to third place, include its economic conditions, number of patents and patent families, expenditure on software, entertainment and media market, high-tech manufacturing, and the complexity of production and exports. Switzerland’s biggest weaknesses comprise the criteria of direct foreign investments (131st place), high-tech imports (109th), and diversification of the domestic industry (69th).