SINGAPORE: Singapore has been ranked fifth in the world in this year’s Global Innovation Index, dropping one place from last year. Within Asia, it was surpassed by South Korea and placed second in the region.
The annual index, released by the World Intellectual Property Organization (WIPO), evaluated nearly 140 countries and regions. Switzerland retained the top position globally, followed by Sweden in second and the United States in third, mirroring last year’s rankings.
South Korea, which ranked sixth last year, climbed two spots to fourth place, edging past Singapore. Mainland China broke into the top 10 for the first time, securing the 10th position. Japan and Hong Kong SAR followed closely at 12th and 15th, respectively.
Despite slipping in the overall ranking, Singapore was recognised for its strengths across multiple areas. The WIPO report noted that Singapore placed first in the world in 10 out of 78 indicators, including high-tech manufacturing.
The report also highlighted Southeast Asia, East Asia and Oceania as a key engine of global innovation this year, with six economies from the region making it into the top 25.
South Korea and Singapore, in fourth and fifth place, were singled out for their continued leadership in the region, particularly in business R&D, education, and innovation infrastructure.
