Geneva (UrduPoint News / Sputnik – September 20, 2021) Switzerland, Sweden and the United States are the three economies with the world’s largest investments in innovation and research and development in 2021, a ranking by the World Intellectual Property Organization (WIPO). ) on Monday afternoon.
“Switzerland, Sweden, the United States and the United Kingdom continue to lead the innovation rankings, all of which have been in the top five for the past three years,” the World Intellectual Property Organization said in a statement.
The first three countries follow the United Kingdom and South Korea, with the latter ranking in the top five this year. Russia ranks 45th, after Thailand and Vietnam.
The World Intellectual Property Organization noted that the annual ranking is usually dominated by a few high-income economies, but middle-income countries such as China, Turkey and India are moving forward and changing the current landscape.
“This year’s Global Innovation Index shows that despite the massive impact of the COVID-19 pandemic on lives and livelihoods, many sectors have demonstrated remarkable resilience – particularly those that have embraced digitalization, technology and innovation,” said Darren Tang, Director General of WIPO.
From the rankings, WIPO came to the conclusion that the COVID-19 crisis demonstrated the importance of investing in science and innovation and demonstrated that post-pandemic growth can be fueled by new ideas.
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