Luxembourg the ranks 18th most innovative economy in the world in the 2020 edition of the Global Innovation Index. The country stands out for its ICT access, venture capital deals, knowledge-intensive employment and online creativity.
Luxembourg ranks 18th in the Global Innovation Index 2020, thus maintaining its position of last year. Co-published by Cornell University, INSEAD, and the World Intellectual Property Organization (WIPO), the index at providing insightful data on innovation and assisting economies in evaluating their innovation performance and making informed innovation policy considerations. The 2020 edition ranks Switzerland, Sweden and the US as the most innovative economies in the world. In total, it covers 131 economies.
The index is based on 7 main pillars, made up of 80 indicators. Luxembourg stands out for its performance in the pillar “Creative Outputs”, where it ranks 3rd, and “Business sophistication”, where it ranks 9th.
When looking at the individual 80 indicators, Luxembourg is one of the economies that consistently holds the top global spots. It is #1 in following categories:
- Tertiary inbound mobility
- ICT access
- Venture capital deals
- Knowledge-intensive employment
- Patent families 2+ offices
- Intellectual property payments
- Cultural and creative services exports
- National feature films
- Online creativity
Luxembourg also ranks high in environmental performance (2nd) and political and operational stability (3rd).