PH is 5th most improved in the 2015 Global Innovation Index

 September 18, 2015

            The Philippines is 5th most improved economy in the 2015 Global Innovation Index. After dropping ten spots last year, the Philippines moved up 17 notches now ranking 83rd out of 141 economies.

            The Philippines obtained a score of 31.1 out of 100, up from 29.87 in the previous year. Of the seven pillars, the country made considerable improvements on the Business Sophistication, jumping 32 notches from 113th to 91st, Knowledge and Technology Outputs, where we are up by 15 from 68th to 53rd, Infrastructure up 11, from 94th to 83rd, and Institutions up 6, from 108th to 102nd.

            Three pillars decreased in ranking as follows: for Market Sophistication, the Philippines dropped from 93rd to 101st place. While the country’s ranking under Human Capital and Research, and Creative Output, similarly fell to 123rd and 101st, respectively.

            For 2015 report, the country ranked 5th place out of the eight ASEAN. Singapore remains atop in the region while maintaining its 7th position in the world rankings. Aside from the Philippines, those that increased their ranks were Malaysia from 33rd to 32nd, Vietnam from 71st to 52nd, Cambodia from 106th to 91st, and Myanmar from 140th to 138th. While economies like Thailand and Indonesia dropped from 48th to 55th and from 87th to 97th. Brunei was not included in this year’s release. Globally, innovation achievers for this year are Switzerland, United Kingdom, Sweden, the Netherlands, and the United States.

            Although Philippines increased its rank, its innovation efficiency has dropped. Innovation efficiency measures the effectiveness of innovation systems and policies. It is calculated by Output sub index score over Input sub index score. Co-published by Cornell University, INSEAD, and the World Intellectual Property Organization, the annual rankings examine both innovation inputs and innovation outputs: the enabling environment for innovation and the results of innovative activities within the economy.

          The Global Innovation Index 2015 focuses on Effective Innovation Policies for Development and shows new ways that emerging-economy policymakers can boost innovation and spur growth by building on local strengths and ensuring the development of a sound national innovation environment.

          WIPO Director General Francis Gurry underscored, “Innovation holds far-reaching promise for spurring economic growth in countries at all stages of development. However, realizing this promise is not automatic”. Adding, for a country in to become an innovation leader, “It must find the right mix of policies to mobilize the innate innovative and creative potential in their economies.”