Recently, the Global Innovation Index 2023 was released. This index is an assessment compiled by the World Intellectual Property Organization (WIPO) to measure the level of innovation, both in terms of resources used (input) and results produced (output), of 132 countries around the world.
For 2023, the Index integrates a wide range of data from the pandemic and post-pandemic periods. This includes countries' policy responses during the pandemic, including variations in lockdown policies and economic reopening, to the impact of the recent armed conflict in Ukraine.
Southeast Asia scored well on this index. Several countries in the region have experienced rapid development in recent years, according to the report.
Singapore made it into the top five in the 2023 GII. In fact, the country retained the top spot in 11 indicators, the same number as last year. These include leadership in business stability, government effectiveness, access to information and communications technology (ICT), logistics performance, venture capital received, high-tech manufacturing, and commitment to GitHub.
Meanwhile, Thailand (43rd) and Vietnam (46th) maintained their positions in the top 50, while the Philippines (56th) moved closer. Vietnam and the Philippines continued to improve, overcoming the setbacks they experienced in 2022 to move up two and three places, respectively.
Indonesia (61st) has also made rapid progress towards the top 60, continuing the improvements it has made in recent years. Indonesia and Vietnam are also middle-income countries in the top 65 of the GII and have experienced the fastest rise in rankings over the past decade.
This year, the gap in the GII rankings between Southeast Asia, East Asia and Oceania (SEAO) and Europe continued to narrow. Six countries in SEAO topped the world innovation rankings, including Singapore (5th), the Republic of Korea (10th), China (12th), Japan (13th), Hong Kong (17th) and Australia (24th).
These six countries lead the way in several key innovation indicators. Singapore, for example, is the top recipient of venture capital.
On the other hand, Indonesia has also made significant progress in innovation, particularly in online knowledge creation and creativity. Indonesia excels in information and communication technology (ICT)-related indicators, ranking among the world's top 10 in university-industry R&D collaboration (5th), cluster development (5th), entrepreneurship policy and culture (5th), and financial support for start-ups and scaling (8th).
In recent years, governments in various countries have used the Global Innovation Index (GII) to improve the innovation performance of their economies and design evidence-based innovation policies. According to a WIPO 2022 survey, approximately 70% of WIPO member countries use the GII as a tool to improve innovation ecosystems and measure innovation outcomes. The GII is also used as a reference in the development of national innovation policies and economic strategies.
Source: WIPO
