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Category: Global Economy Sub-category: World Economy
Document type: news
Grabbing the highest position in the Middle East, Qatar has been ranked 26th in the Global Innovation Index. It is surprising to note that it has soared ahead of the world's two largest emerging economies China (29) and India (62).
The report, prepared jointly by business school INSEAD and few other institutions, said that Qatar improved its world ranking by 9 places from its 2010 position on number 35 on the Global Innovation Index, which is ascertained as an average of the scores across input pillars (describing the enabling environment for innovation) and output pillars (measuring actual achievements in innovation).
Statistics reveal other positions as well. The UAE, which is placed at the second position in the Middle East, ranks at number 34 in the list. No other Middle East country figured in the top 40 on the Global Innovation Index.
As per the findings of The Global Innovation Index 2011 edition, Switzerland topped this year's GII ranking, with Sweden in second place and Singapore third.
The other organisations that joined INSEAD as Knowledge Partners for the report were Alcatel-Lucent, Booz & Company , the Confederation of Indian Industry (CII) and the World Intellectual Property Organisation (WIPO), a specialised agency of the United Nations.
The GII includes 16 economies from the Middle East and North Africa. While Qatar and the UAE are in the top 40, the other GCC economies are ranked in the top 60. Bahrain secured 46th rank, Kuwait was 52nd, Saudi Arabia 54th and Oman 57th.
The bottom three are Syria (115), Yemen (123) and Algeria (125). The five pillars of GII constitute the Innovation Input Sub-Index: 'institutions', 'human capital and research', 'infrastructure', 'market sophistication' and 'business sophistication'.
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The Global Innovation Index is a global index measuring the level of innovation of a country, produced jointly by The Boston Consulting Group (BCG), the National Association of Manufacturers (NAM), and The Manufacturing Institute (MI), the NAM's nonpartisan research affiliate. NAM describes it as the "largest and most comprehensive global index of its kind".
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