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Austria achieved 13th place on Bloomberg’s 2016 Innovation Index

18. February 2016

According to Bloomberg Austria’s innovation potential – an essential factor in assessing any business location – puts it in the international premier league.

The financial information and news service Bloomberg has rated South Korea, Germany, Sweden, Japan and Switzerland as the most innovative countries in the world in its most recent global innovation index, with Singapore, Finland, the USA, Denmark and France hot on their heels at places 6 to10. Scoring highly in almost every category, Austria managed to improve on last year’s 17th place and rose to 13th position.

Every year, Bloomberg rates 50 countries according to a range of criteria that include state expenditure on research and development, manufacturing technology, density of researchers and graduate percentage of workforce. Austria scored highly for its percentage of graduates and scientific studies (7th place), patents (13th place) and productivity (14th place).

A country or region’s Bloomberg ranking is a good indication of its capacity for innovation and competitiveness. Russia has achieved 12th place and China 21st place in the current rankings. Africa is represented by two nations in the index – Tunisia at 46th place and Morocco at 48th. Argentina is the only Latin or Southern American country to make the rankings, achieving 49th place.