Singapore has emerged as the top Asian economy in innovation, going by the 2016 Global Innovation Index (GII), bettering other top asian economies — South Korea (11th), Hong Kong (14th), Japan (16th) and New Zealand (17th) in the Asia-Pacific rankings. Australia takes 19th spot. The Republic is the 6th most innovative economy in the world in 2016 improving from its 7th position the previous year.
Switzerland – which was No 1 globally in 2015 – takes the top spot again this year – followed by Sweden, the UK, the United States and Finland. Notably, China takes the overall 25th position this year. The GII said that the country’s top-25 entry marks the first time that a “middle-income country” has joined the highly developed economies that have historically dominated the top of the index.
In northern America, taking top spots are the US (ranked 4th) and Canada (15th). In sub-Saharan Africa, the leading economies are Mauritius (53rd), South Africa (54th) and Kenya (80th). In Latin America and the Caribbean, Chile (44th), Costa Rica (45th) and Mexico (61st) lead the charts. And in central and southern Asia, India (66th), Kazakhstan (75th) and Iran (78th) are ahead.