Skip to main content

Finland ranked as one of the most innovative countries in the world

Press Release   •   Feb 14, 2013 15:41 GMT

The financial news provider Bloomberg has ranked Finland to the fourth place in its innovation rankings.  The Bloomberg Rankings examined more than 200 countries and sovereign regions to determine how innovative they were, and based on the examinations it  has published its list of top 50 countries. The number one country by innovation was USA, second South Korea and third Germany. 

Bloomberg measured innovation by seven factors, including research and development intensity, productivity, high-tech density, researcher concentration, manufacturing capability, education levels and patent activity. Each country was ranked on a scale of 0 to 100 percent. 

In these rankings Finland was place as a number one country based on researcher concentration and second by its research and intensity. It was third when measured by tertiary efficiency, 11th on high-tech density and 14th on productivity. 

Research and development intensity was based on R&D as a percentage of gross national product (GDP), productivity on GDP per employee and per hour worked, and high-tech density is based on the percentage of publicly-listed companies who specialize in areas including aerospace, defense, biotechnology, Internet software and renewable energy firms.

The FBCC is an independent, non-profit organisation, recognized throughout the Finnish, British and international business communities. The Chamber offers four different membership categories: Patron, Corporate, Professional and Junior.