Israel is the fifth most innovative world economy in the world and the global leader in value-add manufacturing and tertiary education.
Newly published Bloomberg Innovation Index shows that Israel has jumped to the fifth place, advancing five places and beating out the US, which came in 8th after dropping out of the top ten for the first time last year. The most innovative economy was South Korea, with Germany a close second, the only European Union country to score higher than Israel.
The index examines 200 world economies for research and development, manufacturing capability, and concentration of publicly traded high-tech companies. Top 60 are selected to be ranked in the index based on an innovation score between 1 and 100 that is assigned to them. Canada did not make the top ten, coming in at number 20, while Japan and France close out the top ten placing at number 9 and number 10, respectively.
Israel’s total innovation score was 84.78, while South Korea’s top ranking score was 87.38, US score was 83.21, and Canada came in at 73.65. Normalizing these scores such that South Korea gets 100, Israel comes in at 97.0, US at 95.2, and Canada at 84.3. Israel showed particular strength in value added manufacturing and tertiary education (doctoral and post-doctoral degrees per capita), coming in first in the world in both categories by a wide margin.