The Bloomberg agency made a list of the 50 most innovative countries. Innovation was measured by seven factors, including R&D intensity, productivity, high-tech density, researcher concentration, manufacturing capability, education levels and patent activity. USA are the most innovative country in the world. Very high on the list are several European Countries. 6 European countries are in top 10: Germany on 3-rd place, Finland (4), Sweden (5), Austria (8), Denmark (9) and France (10).  What about Eastern European countries and Asia? Unfortunately there is no country from Eastern Europe amogst the top 10. Best from the region is Russia on a very high 14. place, followed by Slovenia on 19. place. Amogst Asian countries the most innovative country is South Korea. It is not a surprise that South Korea ranks as a second most innovative country in the world. Many South Korean’s large companies knowns as Chaebols are very succsessful on global markets with their innovative products. Most known are Korean multinational players are Samsung, LG, Kia and Hyundai.

Japan is an Asian country with the longest tradition of innovation and technology, however in latest Bloomberg list Japan is only on 6th place and must admit the innovation leadership in Asia to South Korea. Japan prouds it self with numerous global successful companies in many in high-tech industries. Toyota, Honda, Mitsubishi, Suzuki, Yamaha, Kawasaki, Sony, Fuji, Canon, Panasonic,…  Japanese companies (globaly knowns as Keiretsu) were global technological leaders in last few decades. In the last years Japanese companies maybe become little sleepy as compared to some new innovative companies from Korea, Taiwan, …  However Japanese companies are still strong and despite a strong competion on global market they are able to compete on global markets with very  innovative products. Toyota, for example, lost its world leadership as the biggest auto maker in the world, because the company was unduly accused that Toyota cars have problems with sudden accelerating. In addition, company was also handicaped with huge natural disaster. Nevertheless, in 2012 Toyota regain the first place in the world auto production.

Singapore is 3rd most innovative Asian country and 7th in the world. Singapore also  tops many international rankings of the most innovative countries. Combination of innovation and competition is the reason that small Singapore with population of just 5 million inhabitants, became the 14^th largest exporter and the 15^th largest importer in the world. According to the WTO, Singapore has the highest trade to GDP ratio in the world at 407.9 percent.

 

BLOOMBERG LIST OF 50 MOST INNOVATIVE COUNTRIES

1. USA

2. South Korea

3. Germany

4. Finland

5. Sweden

6. Japan

7. Singapore

8. Austria

9. Denmark

10. France

11. Netherlands

12. Ireland

13. Norway

14. Russia

15. Belgium

16. Luxembourg

17. Canada

18. The United Kingdom

19. Slovenia

20. Iceland

21. Switzerland

22. Australia

23. The Czech Republic

24. Italy

25. Portugal

26. Hungary

27. Spain

28. New Zealand

29. China

30. Poland

31. Estonia

32. Israel

33. Lithuania

34. Slovakia

35. Croatia

36. Hong-Kong

37. Turkey

38. Malaysia

39. Malta

40. Tunisia

41. Greece

42. Ukraine

43. Bulgaria

44. Latvia

45. Argentina

46. Romania

47. Iran

48. Macedonia

49. Belarus

50. South Africa