In new The Global Innovation Index 2016 survey (GII), Sweden has been named the world's second most innovative country. Report  ranks 128 countries according to their innovation capabilities and results and aims to be a "benchmarking tool for business executives, policy makers and others seeking insight into the state of innovation around the world".

Sweden climbed to second place from third in 2015 in a top-five table that included Switzerland at the top, followed by the UK in third place and the US and Finland in the third and fourth spots. Denmark is ranked on eighth and Norway on 22nd place.
The Global Innovation Index is historically dominated by highly economically developed countries, and 15 of the top 25 are European.

"Europe benefits from comparatively strong institutions and well-developed infrastructure, while room for improvement is found in business sophistication and knowledge and technology outputs," read the report.
However, China's entry into the top 25 this year marks the first time a middle-income country has joined the leading group. But despite its rise, an "innovation divide" persists between developed and developing countries, said researchers.
"Investing in innovation is critical to raising long-term economic growth," said WIPO Director General Francis Gurry.
"In this current economic climate, uncovering new sources of growth and leveraging the opportunities raised by global innovation are priorities for all stakeholders."

Sweden, which is the birthplace of startups including Spotify, Skype and gaming leader Mojang, has a long-standing reputation for innovation. The Global Innovation Index comes a month after Sweden topped the 2016 edition of the European Innovation Scoreboard, which named the country as the EU's innovation leader, followed by neighbours Denmark and Finland, then Germany and the Netherlands.

The Global Innovation Index 2016 – top 25 countries:
1.    Switzerland
2.    Sweden
3.    United Kingdom
4.    United States of America
5.    Finland
6.    Singapore
7.    Ireland
8.    Denmark
9.    Netherlands
10.    Germany
11.    Republic of Korea
12.    Luxembourg
13.    Iceland
14.    Hong Kong (China)
15.    Canada
16.    Japan
17.    New Zealand
18.    France
19.    Australia
20.    Austria
21.    Israel
22.    Norway
23.    Belgium
24.    Estonia
25.    China

Read the full report: www.globalinnovationindex.org

Source: thelocal.se
Graphics: Global Innovation Index 2016