Finland ranked 4th in Bloomberg's Global Innovation Index

Finland’s greatest innovation strengths are in researcher concentration, R&D intensity and tertiary efficiency.

Finland has been ranked 4th in the world in Bloomberg's Global Innovation Index, published by the American mass media corporation. Bloomberg Rankings recently examined more than 200 countries and sovereign regions to determine their innovation quotient. Innovation was measured by seven factors, including R&D intensity, productivity, high-tech density, researcher concentration, manufacturing capability, education levels and patent activity.

Finland was ranked the best in the world in terms of researcher concentration, measured by the number of R&D researchers per one million people. Finland was placed second in R&D intensity, calculated from R&D as a percentage of GDP.

Strength in education

In tertiary efficiency Finland was ranked third best in the world. This category includes the enrollment ratio in all subjects for post-secondary students tertiary graduation ratio of students who majored in science, engineering, manufacturing and construction annual new graduates and total tertiary-degree holders as percentages of labor force.

Finland was ranked 11th in high-tech density. This includes high-tech public companies, such as aerospace and defense, biotechnology, hardware, software, semiconductors, Internet software & services and renewable energy companies, as a percentage of publicly listed companies.

In the category for productivity, measured as GDP per employed person, per hour worked, Finland was ranked 14th. Finland was also ranked 23rd for patent activity and 31st for manufacturing capability.

Source: Bloomberg