UAE, 27 September, 2024 : The United Arab Emirates (UAE) has secured the top spot in the North Africa and Western Asia region, ranking 32nd globally in the World Intellectual Property Organization’s (WIPO) Global Innovation Index (GII) 2024.
The report highlights the UAE's rise as one of the region's most innovative economies. Among Middle Eastern countries, only the UAE, Iran (64th), and Oman (74th) have improved their rankings since 2013.
The GII 2024 evaluates 133 economies, focusing on key pillars like Institutions, Human Capital, Infrastructure, and Market Sophistication. It notes a slowdown in venture capital and R&D funding worldwide while recognizing the UAE’s high GDP per capita as a driving force behind its innovation performance.
Switzerland, Sweden, the US, Singapore, and the UK remain the top five most innovative economies globally. China, Türkiye, India, Vietnam, and the Philippines are noted as the fastest climbers over the past decade.
Source : www.wam.ae
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