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Austria achieved 12th place on Bloomberg’s 2017 Innovation Index

16. March 2017

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, Sweden, Germany, Switzerland and Finland as the most innovative countries in the world in its most recent global innovation index, with Singapore, Japan, Denmark, the USA and Israel hot on their heels at places 6 to10. Scoring highly in almost every category, Austria managed to improve on last year’s 13th place and rose to 12th position.

Every year, Bloomberg rates 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 (6th place), research and development (7th place), manufacturing technology (7th place) and productivity (11th place).

A country or region’s Bloomberg ranking is a good indication of its capacity for innovation and competitiveness. China has achieved 21st place and Russia the 26th place in the current rankings. Africa is represented by two nations in the index – Tunisia at 45th place and Morocco at 50th. Argentina is the only Latin or Southern American country to make the rankings, achieving 49th place.