Living in the future: Which are the most innovative countries in the world?

Living in an innovative country means being part of an ecosystem where technology and creativity, among other factors, redefine daily life. Some nations are leading the way thanks to bold policies that promote research, development and cutting-edge infrastructure. The result? A quality of life that makes a difference.

The Global Innovation Index (GII) is a worldwide index for cutting-edge trends that helps political and business leaders seeking to boost human ingenuity in the face of global challenges, such as climate change.

In its 2024 edition, it highlights the analysis of “social entrepreneurship,” which adopts private sector strategies to generate positive social impact, according to WIPO.

Venture capital investment fell by 40% in 2023, and so did expenditure on R&D and the number of international patent applications. This went hand in hand with lower scientific publication output. All this is in an environment with high interest rates, which disrupts the boom of 2020-2022.

The Global Innovation Index 2024 examines the performance of 133 economies, providing a comprehensive overview of global trends in this highly strategic field. Through this analysis, the 10 most innovative countries stand out for their ability to boost technological development, foster creativity and improve the sophistication of their markets. Which are the 10 leading countries in innovation?

Denmark has risen to tenth place in the Global Innovation Index, standing out as one of the most innovative economies thanks to an enabling environment for creativity and business development.

Sune Stampe Sørensen, Director of Denmark's Patent and Trademark Agency, emphasizes the need to maintain this leadership, as innovation is key to economic growth and job creation.

Germany has fallen to ninth place in the Global Innovation Index 2024, although it has improved in process innovation and in creating connections within its ecosystem, with public-private co-publications standing out.

However, it faces challenges in product innovation and in generating intellectual property assets, according to the European Commission.

By 2024, the Netherlands fell into 8th place in the Global Innovation Index, still excelling in areas such as business sophistication and technology. However, it faces challenges in infrastructure and human capital.

Despite all these setbacks, the Netherlands shows key opportunities in sectors such as social entrepreneurship and climate technology, according to I Amsterdam.

Finland dropped to seventh place in the 2024 Global Innovation Index, although it remains a leader in healthcare, education, and innovation sectors.

Since the 1970s, Finland has been in the edge of technology, standing out with inventions such as the heart rate monitor and its early support for the 5G network, consolidating its role as an innovative leader, according to Tempo.co.

South Korea went up from 10th to 6th place in the 2024 Global Innovation Index, excelling in human capital, research and creative outputs. With a surge in startup investment and the launch of Startup Korea in 2023, the country is strengthening its entrepreneurial ecosystem.

Technology is present in everyday life in South Korea, with such novelties as AI robots in museums and translator watches, according to BBC News.

The UK dropped to fifth place in 2024, but still stands out for its creative approach to technology. One example is the waste management system in London.

Waste Direct uses artificial intelligence to optimize routes using historical data and real-time traffic. This includes smart bins and underground collection in modern urban areas, according to BBC News.

Singapore went up to fourth place in 2024, entering the top 10 in 2018. This rise is due to its growing productivity, progress in manufacturing, and a strong focus on education.

In 2021, higher education enrollment rate in Singapore was almost 97%, contributing to a highly skilled workforce, according to various reports.

The United States maintains its position as the world’s third most innovative country according to the 2024 Global Innovation Index 2024. Although its infrastructure score has hampered its score, it continues to lead in market sophistication and ranks second in business sophistication, according to Digital Information World.

Silicon Valley, home to tech giants such as Google and Apple, fortifies America's role as a global hub of technological innovation.

IVA reports that Sweden remains firmly focused on innovation. In the picture, you can see a Swedish drone carrying a defibrillator.

Björn Ekelund, an expert in innovation processes throughout his career, explains his country's success: “There is a strong collaborative climate between academia and industry, as well as between various sectors. Plus, our business culture is relatively horizontal, which creates a favorable environment for innovation.”

Switzerland has maintained its position as a leader in innovation for 14 years, according to Switzerland Global Enterprise. The country remains a benchmark in access to new technologies and in knowledge production.

However, globally, WIPO has highlighted a 40% drop in venture capital investment last year, as well as a slowdown in research spending.

China holds its place as the only middle-income economy in the top 30 of the Global Innovation Index, ranking 11 on the list.

According to the GII, 19 countries also exceeded expectations in terms of their development, with India, the Republic of Moldova and Vietnam standing out.

In recent years, countries such as Saudi Arabia, Qatar, Brazil, Indonesia, Mauritius and Pakistan have recorded the greatest progress, according to WIPO. This rise reflects their efforts to strengthen innovation in strategic sectors and improve their level of global competitiveness.