Since 2007, Cornell University, INSEAD and the World Intellectual Property Organization have published an annual Global Innovation Index. This composite index is a precious tool for comparing and evaluating the ongoing progress made by different countries in the area of innovation. In the 2017 edition, Luxembourg came 12th with a score of 56.40.
The Global Innovation Index (GII) report ranks economies in terms of their capability and performance in the area of innovation.
The GII is calculated as the average of two sub-indices, providing a score that ranges from 0 for the worst performances to 100 for the best. The Innovation Input Sub-Index is used to evaluate elements of the national economy which embody innovative activities, grouped into five pillars: institutions, human capital and research, infrastructure, market sophistication and business sophistication. The Innovation Output Sub-Index examines actual evidence of innovation results, based on two pillars: knowledge and technology outputs and creative outputs.
With a score of 57.36, Luxembourg is 24th in the world for Innovation Input (institutions: 19th; human capital and research: 33rd; infrastructure: 24th; market sophistication: 78th; business sophistication: 7th). In terms of Innovation Output, Luxembourg scored 55.43, coming in 4th place (knowledge and technology outputs: 15th; creative outputs: 1st).
The 2017 edition of the index contains data on 127 countries, which were evaluated on the basis of 81 indicators. For the seventh year in a row, Switzerland topped the ranking (with a score of 67.69). Sweden came second (63.82) and the Netherlands third (63.36). Our neighbours' scores were as follows: Germany came 9th (58.39), France 15th(54.18) and Belgium 27th (49.85).
(Article written by the editorial team of the luxembourg.lu portal / Source: Press release from the Observatory for Competitiveness)