The World Intellectual Property Organization (WIPO) released the 2022 Global Innovation Index. The results show that Switzerland has ranked as the world's most innovative country for twelve consecutive years.
WIPO's ranking of the 2022 Global Innovation Index is based on criteria such as human capital, institutions, technology and creative outputs, as well as market and business sophistication. The index found that innovation continues to thrive in several sectors despite the global economic slowdown and the coronavirus pandemic, particularly in industries related to public health and the environment.
Switzerland topped the ranking with a score of 64.6 out of 100. The United States came in second, while Sweden secured the third position.
One country that saw a significant rise in its ranking is South Korea, which climbed from 10th place in 2020 to 6th in 2022. China is now the 11th most innovative country in the world, up from 14th in 2020 and 2019, and 17th in 2018.
China was also named the most innovative upper-middle-income country, ahead of Bulgaria (overall rank 35), while India (overall rank 40) ranked first among lower-middle-income countries, followed by Vietnam (overall rank 48).
Indonesia ranked 75th on the list with an innovation index value of 27.9. Indonesia's position is flanked by Georgia at 74th and Jamaica at 76th.
(read: Singapore Leads as the Most Innovative Country in ASEAN, Where Does Indonesia Rank?)