An analysis of the World Economic Forum concludes that Germany is outstanding at innovation. The Federal Republic ranks first in front of the USA, as the Foundation states in its 2018 Global Competitiveness Report. The organization had evaluated the development of new ideas to their successful marketing. The deciding factors for the judgment were, for example, the number of registered patents as well as scientific publications and the satisfaction of customers with German products - this spurs companies on and on to improvements and renewals.
However, the capacity for innovation is only one of twelve points according to which the WEF Foundation assesses the competitiveness of the countries. Others include, for example, the strength of the financial system, infrastructure, education and health care. Looking at all these pillars together, Germany occupies third place - behind the US and Singapore. In the past year, Germany was in fifth place overall, but the rankings can not be compared, as the WEF announced, since this time new valuation methods have been applied.
Overall, in the index behind the USA, Singapore and Germany, Switzerland, Japan, the Netherlands, Hong Kong, Great Britain, Sweden and Denmark are in the top ten. In the US, the entrepreneurial culture, the labor market and the financial system led to the good rating.
The consequences of recent trade disputes, growing populism and a focus on national interests are still unreadable in the index, said co-author Saadia Zahidi. The analysts had processed data from the past year. Nevertheless, Zahidi sees worrying trends. It includes a collapse of the social fabric in some countries, attacks on the freedom of the press and regressive health care.
China ranks 28th in the ranking of 140 countries surveyed. On the back ranks are Haiti, Yemen and Chad. With Venezuela, only one non-African country is in one of the last 28 places.