Finland world’s fourth most innovative country
Finland has placed fourth in this year’s release of the Global Innovation Index, rising two positions from last year. The country also is one of the five economies named in the ‘efficient’ frontier.
The Global Innovation Index report ranks economies according to their innovation capabilities and results. The list takes into account complex metrics in a total of 81 indicators. The main pillars of analysis are institutions, human capital and research, infrastructure, market sophistication, business sophistication, knowledge and technology outputs, and creative outputs.
In this 7th release of the index, Finland has placed in the top 25 for all pillars, being first in institutions and human capital and research. It is also the top nation in many sub-categories, such as government effectiveness, press freedom, and communications, among others. According to the index, Finland’s weakest performance is in gross capital formation, where it ranked 102nd.
Finland comes fourth this year behind Switzerland (1), the United Kingdom (2), and Sweden (3). Behind Finland are the Netherlands (5), the United States (6), Singapore (7), and Denmark (8).