The Global Innnovation Index (GII) compares the innovation capacity of the different economies throughout the world. After comparing the data of 78 countries worldwide, Luxembourg ranks itself in 34th place and scores 59.20 points. The 15 first positions are dominated by Scandinavian economies, even though South Korea leads the ranking. (with 89.00 index points).
The statistical data used is provided by different recognised international organisations, like the International Labour Organisation (ILO), the International Monetary Fund (IMF), the World Bank, the Organisation for Economic Co-operation and Development (OECD) and the UNESCO.
Seven different key factors are being considered to establish the ranking : the level of research and development (R&D), the added value of the manufacturing sector, the productivity, the concentration of high-tech companies, the tertiary education, the concentration of researchers and the patents on inventions.
Luxembourg has excellent results in the criteria of productivity (4th in the world, 1st in the EU), of the concentration of researchers (11th in the world, 5th in the EU) and of the patents of inventions (13th in the world, 6th in the EU).
(article written by the editorial team of the portal luxembourg.lu)