Austria achieved 12th place on Bloomberg’s 2018 Innovation Index. According to Bloomberg Austria’s innovation potential – an essential factor in assessing any business location – puts it in the international premier league.
The financial information and news service Bloomberg has rated South Korea, Sweden, Singapore, Germany and Switzerland as the most innovative countries in the world in its most recent global innovation index, with Japan, Finland, Denmark, France and Israel hot on their heels at places 6 to10. Scoring highly in almost every category, Austria took 12th place as in the previous year. The USA dropped out of the top 10 and is ranked 11th in front of Austria.
Every year, Bloomberg rates countries according to a range of criteria that include state expenditure on research and development, manufacturing technology, density of researchers and graduate percentage of workforce. Austria scored highly and reached 5th place in both “research and development” and “patent activity” during the 2018 Innovation Index.
A country or region’s Bloomberg ranking is a good indication of its capacity for innovation and competitiveness. China has achieved 19th place and Russia the 25th place in the current rankings. Africa is represented by three nations in the index – Tunisia at 43rd place, South Africa at 48th and Morocco at 50th. Argentina is the only Latin or Southern American country to make the rankings, achieving 49th place.