Latvia trails Baltic peers in Global Innovation Index

Latvia trails its Baltic peers when it comes to innovation, according to the results of the Global Innovation Index, published September

Latvia is positioned in 42nd place globally and 26th place in Europe according to the The Global Innovation Index 2024, published by the World Intellectual Property Organization (WIPO), which aims to "capture the innovation ecosystem performance of 133 economies."

Lithuania ranked 35th globally (22nd in Europe) and Estonia was in 16th place globally (9th in Europe).

"Looking at the global landscape in 2023, we find cloudy skies and gloomy weather. Following boom years between 2020 and 2022, R&D expenditures decelerated, the number of scientific publications fell, and venture capital investments returned to pre-pandemic levels, including in Africa and Latin America. If tighter financial conditions persist, this will hinder needed innovation investments in the near term," said WIPO.

Switzerland ranked in first place in the GII for the 14th consecutive year. Sweden and the United States maintained their respective 2nd and 3rd positions for the second consecutive year.

The World Intellectual Property Organization (WIPO) is the United Nations agency responsible for innovation and creators, ensuring that their ideas travel safely to the market. Established in 1967, WIPO is headquartered in Geneva, Switzerland.

You can ind the full 2024 report here: https://www.wipo.int/en/web/global-innovation-index

Global innovation index rankings
Global innovation index rankings

 

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