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| According to the recently published report of the Economist Intelligence Unit, Switzerland is considered the second innovative nation in the world, surpassed only by Japan. |
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Switzerland is Europe's most innovative nation and second in the world after Japan, according to the new
report "Innovation: Transforming the way business creates" by the Economist Intelligence Unit (EIU).
Sweden and the US came in third and fourth respecti- vely in the EIU global ranking of 82 economies, based on their level of innovation in 2002- 2006. The report says the top four should maintain their positions through 2011. Switzerland's economic success is mainly based on intellectual property according to the report. The country boasts the most scientific Nobel laureates per capita, ranks first in patents per 100,000 inhabitants, and enjoys one of the highest publication citation rates in the world. Switzerland is also a leader in PhD graduates in sciences and engineering per thousand inhabitants between the ages of 25 and 34. The report continues that Switzerland as a small country benefits from easier networking and comparative advantages, derived from its historical specialities such as watch- making. With such high-tech clusters in the horological, electrical and pharmaceutical industries, Switzerland is a leading innovator. Pharmaceutical companies in particular must be more innovative due to a longer period than other sectors between the filing of a patent and the marketing of the product. This time gap is necessitated by the lengthy and expensive testing protocols to ensure that drugs are beneficial and safe. |
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| The aims of the study were to analyze the importance of innovation, and then determine which countries innovate the best and why. To achieve this, the Economist Intelligence Unit compiled the ranking and also conducted a survey of 485 senior executives world- wide on their opinions regarding innovation. The direct factors closely linked to innovation are selected from a broader index, called the Business Environment Rankings. Innovation Index 2002–2006 |
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