The Global Innovation Index (GII) 2024

The 17th edition of the Global Innovation Index (GII) was released yesterday. Published since 2007, the GII has been a useful source of analysis for measuring innovation. Review here this TechieKat’s reports on previous editions of GII.

The GII 2024 was published by the World Intellectual Property Organization (WIPO) in partnership with the Portulans Institute.

The GII 2024 contains the latest global innovation ranking of 130-plus economies, relying on 78 indicators. This year’s report theme is “Unlocking the Promise of Social Entrepreneurship”.

The newest GII Innovation Ecosystems & Data Explorer 2024 showcases briefs on each economy’s performance on all indicators, highlighting its innovation strengths and weaknesses.

WIPO shared some findings in the press release published today:

• “Following a boom between 2020 and 2022, scientific publications, venture capital (VC) and international patent filings experienced a downturn in 2023, and research and development expenditures (R&D) slowed.
• VC and scientific publications have declined sharply back to pre-pandemic levels, with a pronounced impact on emerging regions such as Latin America and Africa.
• International patent filings saw a decline of 1.8 percent in 2023, marking the first such decline since 2009.
• Global R&D grew at a rate of 5 percent in 2022 – slightly down from 2021 – but is projected to slow to 3 percent in 2023 in real terms.
• Technology continues to progress rapidly, particularly in health-related fields and computing power. Technology adoption is also growing, particularly in 5G – with close to 25 percent increase on coverage in 2022, robotics, and electric vehicles (EVs) – where the global stock of EVs increased by 54 percent in 2022.
• However, the progress in green technologies in the last year has been slower than the average for the decade, highlighting the difficulty in reducing the energy consumption of supercomputers and maintaining the decrease in electric battery prices”.

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Some highlights contained in the GII 2024 report are:

• The United States of America scored best in indicators such as unicorn valuation, the impact of its scientific publications (H-index), software spending and intellectual property receipts.
• Canada advanced to 14th place, “also ranking in the top 10 for its university-industry R&D collaboration, researchers working in the private sector and IP payments”.
• Nine economies from Latin America and the Caribbean advanced their positions. Brazil, Chile and Mexico remain in the top 60.
• Europe continues to host the highest number of innovation leaders, ranking among the top 25.
• Ireland led in IP payments and ICT services, whilst Spain performed well in industrial designs and software spending.
• India continues to be the world leader in the indicator of ICT services exports.
• Türkiye stood out in trademarks and industrial designs.
• South Africa performed well in global brand value and ICT services imports.
• Indonesia excelled in university-industry R&D collaboration, and the Philippines in trade-related indicators such as high-tech exports.

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The top ten of the global innovation ranking of GII 2024 are:

1. Switzerland (No. 1 in 2023)
2. Sweden (No. 2 in 2023)
3. United States of America (No. 3 in 2023)
4. Singapore (No. 5 in 2023)
5. United Kingdom (No. 4 in 2023)
6. Republic of Korea (No. 10 in 2023)
7. Finland (No. 6 in 2023)
8. Netherlands (No. 7 in 2023)
9. Germany (No. 8 in 2023)
10. Denmark (No.9 in 2023)

The GII 2024 regional innovation leaders for Northern America (NAC) are:

1. United States of America (GII rank: 3)
2. Canada (GII rank: 14)

The top five GII 2024 regional innovation leaders for Latin America and the Caribbean (LCN) are:

1. Brazil (GII rank: 50)
2. Chile (GII rank: 51)
3. Mexico (GII rank: 56)
4. Colombia (GII rank: 61)
5. Uruguay (GII rank: 62)

The top five GII 2024 regional innovation leaders for Europe (EUR) are:

1. Switzerland (GII rank: 1)
2. Sweden (GII rank: 2)
3. United Kingdom (GII rank: 5)
4. Finland (GII rank: 7)
5. Netherlands (GII rank: 8)

The top five GII 2024 regional innovation leaders for Sub-Saharan Africa (SSF) are:

1. Mauritius (GII rank: 55)
2. South Africa (GII rank: 69)
3. Botswana (GII rank: 87)
4. Cabo Verde (GII rank: 90)
5. Senegal (GII rank: 92)

The top five GII 2024 regional innovation leaders for Northern Africa and Western Asia (NAWA) are:

1. Israel (GII rank: 15)
2. Cyprus (GII rank: 27)
3. United Arab Emirates (GII rank: 32)
4. Türkiye (GII rank: 37)
5. Saudi Arabia (GII rank: 47)

The top five GII 2024 regional innovation leaders for Central and Southern Asia (CSA) are:

1. India (GII rank: 39)
2. Islamic Republic of Iran (GII rank: 64)
3. Kazakhstan (GII rank: 78)
4. Uzbekistan (GII rank: 83)
5. Sri Lanka (GII rank: 89)

The top five GII 2024 regional innovation leaders for South East Asia, East Asia, and Oceania (SEAO) are:

1. Singapore (GII rank: 4)
2. Republic of Korea (GII rank: 6)
3. China (GII rank: 11)
4. Japan (GII rank: 13)
5. Hong Kong, China (GII rank: 18)

Review here the GII 2024 and here the ranking for all regions.

More findings of the GII 2024 regional innovation leaders for Latin America and the Caribbean by this Kat can be reviewed here (in Spanish).

Previous GII editions can be reviewed on the dedicated WIPO’s web page for the Global Innovation Index.


Credits:
The first image is by Gerd Altmann from Pixabay.

The second image is the Global Innovation Tracker Dashboard, and the third image is Figure 16 The GII dynamo: The top 15 innovators, 2020-2024, under a CC BY 4.0 license. WIPO (2024). Global Innovation Index 2024: Unlocking the Promise of Social Entrepreneurship. Geneva: WIPO. 10.34667/tind.50062