World Economic Forum (WEF) Rank Israel 3ʳᵈ Most Innovative Global Economy

Innovation remains a key driver of economic growth. The sheer pace of technological change seen in recent years creates unprecedented opportunities, as well as challenges, nevertheless, the nature of innovation has changed significantly in the last decade. Where once innovation was largely confined to corporate or university labs, it’s now being driven from many different sources, or what the report calls the “distributed intelligence of a global crowd”.

The World Economic Forum’s Global Competitiveness Index ranks 137 economies on 12 pillars of competitiveness, the 12th of which is ‘innovation’. The economy of Israel is ranked third! It has a good capacity for innovation, high quality scientific research institutions and strong private sector spending and collaboration on R&D.
Read the full WEC report…