Bloomberg Innovation Index: Israel slipped to 7th place - South Korea is first

South Korea rose to first place in the Bloomberg Innovation Index, after Germany, which was in first place last year, dropped to fourth place. The United States, on the other hand, dropped out of the top 10 after being in ninth place in 2020, while Israel was ranked seventh, down one step from last year. The Asian nation is now in first place in seven of the nine years the index is published. One and ranked second and third respectively.
The Bloomberg Index analyzes dozens of criteria using seven equivalent metrics, including research and development spending, manufacturing capacity, and concentration of high-tech companies. The 2021 ranking reflects a world in which the war against the Corona virus has brought innovation to the forefront - from government efforts to contain the virus, to the technological infrastructure needed to support economies during the epidemic, to the race to develop vaccines. "In the Cubid year and in the face of the emergency crisis of the climate crisis, the importance of innovation is only growing," said Catherine Mann, a senior global economist at Citigroup.

"Innovation is usually measured by new ideas, new products and new services, but it is the level of their integration and adoption that constitutes a true measure of success."
Much of Bloomberg's information comes from before the epidemic, and yet, it is worth noting that many countries that are at the top of the index - such as South Korea, Germany and Israel - were world leaders in fighting the epidemic.
U.S. companies such as Zoom Video Communications and vaccine maker Pfizer are among the symbols of innovation of the past year, reflecting the high concentration of U.S. technology companies. Nobel laureate, economist Paul Romer. "We must recognize that the current criteria do not represent important dimensions of innovation. Officials in the city of Wuhan have shown for the first time that within a few weeks, it is possible to check ten million residents of a city with a corona eruption. This is an important innovation in public health, "said Romer, a professor at the School of Business Administration at New York University.
The 10 most innovative countries according to Bloomberg
1. South Korea
2. Singapore
3. Switzerland
4. Germany
5. Sweden
6. Denmark
7. Israel
8. Finland
9. The Netherlands
10. Austria