Economy: A financial information giant has named the Grand Duchy one of the world’s 20 most innovative countries.
Luxembourg has placed 16th in Bloomberg’s Global Innovation Index. The worldwide financial news and data firm “examined more than 200 countries and sovereign regions to determine their innovation quotient” and released the top 50 on Friday.
The Grand Duchy was listed above the 18th placed UK and 17th ranked Canada, and below 15th placed Belgium and 14th ranked Russia.
Luxembourg scored highly in several “determining factors” used to calculate the index, including coming first in productivity, defined as “GDP per employed person, per hour worked”.
The Grand Duchy also was 9th in researcher concentration, the number of “R&D researchers per one million people”, 12th in high-tech density, the number of high-tech firms as a proportion of listed firms, and 22nd in R&D intensity, the amount spent on “research and development as a percentage of gross domestic product.”
Weak education results
Luxembourg fared less well on “tertiary efficiency”, where it was 53rd in the success of its secondary and post-secondary school students. It was 55th in patent activity per capita, and 84th in manufacturing capability, which measured high-tech value add “as a percentage of total manufactured exports.”
In the overall global rankings, Anglophone and Nordic countries also placed well. New Zealand placed 28th, Australia was 22nd, Ireland was 12th and Canada was 17th, while Iceland placed 20th, Norway was 13th, Denmark was 9th, Sweden was 5th and Finland was 4th.
Among Asian leaders, China was 29th, Singapore placed 7th and Japan was 6th.
France was 10th worldwide, with Germany ranked 3rd, South Korea was 2nd and the US took top place.