TNC Business Strategy Research
Taiwan 2020 Taiwan ranks 5th in the global economic innovation potential
Taiwan ranks 5th in the global economic innovation potential
According to the index newly released by Bloomberg Institute for Economic Research, Taiwan ranks 5th in the global economic innovation potential.
In the latest ranking of 135 countries, Bloomberg Economic Research considers four factors: intensification of IT or a country's information technology infrastructure, human capital, business fluctuation and institutional quality measures or a country’s preference to innovate and absorb the existing technology. Taiwan ranks 5th for its overall innovation potential after Japan, the United States, Germany and Switzerland.
In the report released on October 15th 2020, Taiwan scored 2.9 of 3 points for IT deepening and scored 1.4, 2.1 and 1 points for institutional measures, business climate and human capital, respectively. Ranking 6 to 10 countries are Singapore, Denmark, Sweden, Netherlands and the United Kingdom.
The report concluded that advanced economies have the greatest potential for innovation and emerging markets, such as China, Russia and Brazil, following closely behind. China scored -0.3 on institutional quality indicators and 2.1 on human capital, ranking 31st.