Israel was ranked seventh among the world’s 60 most innovative economies according to Bloomberg’s 2020 Innovation Index, dropping two places from 2019. South Korea came in first, followed by Singapore, Switzerland, Sweden, Germany, and Denmark. The U.S. ranked 11th.
Bloomberg uses seven metrics to rank the economies, including research and development spending, manufacturing capability and concentration of high-tech public companies.
Cornell University, INSEAD, and the World Intellectual Property Organization also publish a ranking of the most innovative countries. Israel placed 13th in 2020.
Global Innovation Index 2020
- United States
- United Kingdom
- Republic of Korea
- Hong Kong, China
Sources: “Global Innovation Index 2020,” Cornell University, INSEAD, and the World Intellectual Property Organization, (2020).
Michelle Jamrisko, Lee J Miller, and Wei Lu, “These Are the World’s Most Innovative Countries,” Bloomberg, (January 22, 2019).
“Israel makes top 10 (again) in ranking of world’s most innovative countries,” JNS, (February 12, 2021).