Phl retains Global Innovation Index ranking

Philippines retained its ranking in this year’s Global Innovation Index (GII) which takes into account innovation capabilities and measurable output.

According to the GII 2018 report, the country ranked 73rd out of 126 countries included in the annual survey of the World Intellectual Property Organization, Cornell University, and INSEAD Business School.

The country maintained its ranking from last year, with a score of 31.56.

Among the factors taken into account in the survey are institutions, human capital and research, infrastructure, market sophistication, business application, knowledge and technology outputs, and creative outputs.

“The Philippines performs better in innovation outputs than in innovation inputs ... The Philippines is quite efficient in translating its innovation inputs into outputs," the report said.

This year's ranking was topped by Switzerland with a score of 68.40, Netherlands (63.32), Sweden (63.08), United Kingdom (60.13), and Singapore (59.83)

Also in the top ten are the United States of America (59.81), Finland (59.63), Denmark (58.39), Germany (58.03), and Ireland (57.19).

The Global Innovation Index is an annual ranking of countries by their capacity for, and success in, innovation. The metrics covers the innovation performance of countries included in the report, representing 90.8 percent of the world’s population and 96.3 percent of global gross domestic product.