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Innovation in Europe

Is Europe still the world's Innovation hub?

19Nov

According to this year's Global Innovation Index, Europe leads the way when it comes to innovative practices, with each of the Top 5 being a European country. Switzerland takes the top spot, whilst the UK, Sweden, Finland and the Netherlands complete the list.

Despite showing Europe's power to innovate, it also highlights that nations classified as 'high income', including, Spain, Portugal and Italy have some catching up to do if they're to be grouped in the same category as the countries mentioned at the top of this article.

Switzerland's placement at the top of the rankings is down to a highly collaborative relationship between university and industry research as well as an unrivalled environmental performance. The UK's high ranking was attained through the quality of its universities and the export of creative services.

Although America's ranking remains high, its drop in the rankings this year will be a concern, even if it was only by a single place, from fifth to sixth. The big innovation success story however is undoubtedly that of Sub-Saharan Africa, with countries like Gambia and Malawi accounting for 42% of 'innovation learner' countries, that is, countries that are performing over 10% higher than expected for their level of gross domestic product.

As it stands, Europe is the innovation hub of the world. The Global Innovation Index has raised some very interesting developments and it'll be fascinating to see what the rankings are next year. 

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