The World Economic Forum’s (WEC) “Global Competitiveness Report 2013–2014” identified Switzerland as the world’s most competitive country. Singapore, Finland, Germany and the US rounded out the top five most competitive countries. To determine rankings, the WEC considered 12 pillars, including innovation, which were based on its annual Executive Opinion Survey, and data from other international organizations. The Survey polled more than 13,000 business leaders in 148 countries between January and May. Out of the 148 countries analyzed in the Report, 25% were identified as innovation driven. Several factors contributed to a country’s innovation score. Companies having the largest capacity for innovation were Switzerland, Finland, Germany, Israel and the US. Israel, Switzerland, the UK, Belgium and the US had the highest quality of scientific research institutes. Companies spent the most on R&D in Switzerland, Japan, Finland, Germany and the US. Academic-business R&D collaborations were identified as the “most extensive” in Switzerland, Finland, the US, Singapore and the UK.

Source: WEC