Sweden has replaced The United States and is now the world’s second most innovative economy in 2023, according to a ranking dominated by European countries. Meanwhile ‘middle-income economies’ like Indonesia, China, Vietnam and the Philippines are the fastest climbers in the ranking.
The study is made by World Intellectual Property Organization (Wipo) and is an agency of the Unites Nations. They have used 80 indicators to track down global innovation trends, and have been able to list down countries’ perfomance in innovation.
Looking at the Southeast Asian speed up the ranking, agency director-general Daren Tang says this shows ‘how a focus on the innovation ecosystem can make a difference.’
Besides the Swedish upgrade, both Singapore, Finland and Denmark are also to be found in the top ten. Here are the top ten most innovative economies of 2023.
- Switzerland (Also number one in 2022)
- Republic of Korea