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Austria achieved 12th place on Bloomberg’s 2019 Innovation Index

5. February 2019

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, Finland, Switzerland and Israel as the most innovative countries in the world in its most recent global innovation index, with Singapore, Sweden, USA, Japan and France hot on their heels at places 6 to10. Scoring highly in almost every category, Austria took 12th place as in the previous year.

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 and reached 6th place in “R&D intensity” and  8th place in “tertiary efficiency”.

A country or region’s Bloomberg ranking is a good indication of its capacity for innovation and competitiveness. China has achieved 16th place and Russia the 27th place in the current rankings. South America is represented by four nations in the index of the top 60 economies – Brazil at 45th place, Argentina at 50th, Chile at 58th and Mexico at 59th. South Africa and Tunisia are the only African countries to make the rankings, achieving places 51 and 52 respectively.