Switzerland has once again topped the table as the world’s most innovative economy, in the latest World Economic Forum Global Competitiveness Report. Sweden is still Top 6 in the world.
It is the seventh year in a row that Switzerland has claimed the title. The European nation scores highly on a range of indices, but particularly well for high quality enterprises across sectors that strive for innovation and for commercially applicable products.
The 2016-2017 report assesses the competitiveness landscape of 138 economies and ranks them based on several factors.
High scoring countries must have an environment that is conducive to innovative activity and one that is supported by both the public and the private sectors.
This could mean investment in research and development and the presence of high quality research institutions.
The report says that, “In these economies, firms must design and develop cutting-edge products and processes to maintain a competitive edge and move toward even higher value-added activities”.