No country in the world is as innovative as Germany. This is the conclusion reached by the World Economic Forum (WEF) in its annual competitiveness study. Based on ten different criteria, the country offers the best conditions for mastering innovative processes from idea to marketing. Only slightly worse cut in the point of the US and Switzerland.
The result contrasts with the criticism that is widespread in Germany that Germans are great inventors, but they do not understand how to turn their ideas into successful products and companies. Also, the lack of venture capital and the slow expansion with fast data lines (5G) is often lamented.
However, the WEF praises, for example, strong research institutes, successful clusters - networks of companies and research institutions specializing in specific technologies - as well as the good cooperation of various "stakeholders", for example, employee participation. According to the WEF, Germany is the leader in terms of economic stability, except in terms of its innovative strength. This is mainly due to low inflation and sound public finances.
Overall, Germany ranks third in the competition ranking, behind the USA and Singapore. The World Economic Forum sees America at the forefront, despite protectionist trade policies and shortcomings in the social system. No other country is entrepreneurially dynamic and has such a powerful financial system. The second-largest economy in the world China is far behind in 28th place. At the bottom are African countries.
For the ranking, the WEF examines 140 developed, emerging and developing countries on the basis of 98 indicators, grouping them into twelve key factors for competitiveness. This year, the WEF changed the methodology to better reflect how countries are prepared for the digital transformation. "The fourth industrial revolution is dramatically changing the competitive landscape," the report said.
DPA
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Many factors that are crucial in this new environment have in the past played no role in policy decisions, such as brainstorming, entrepreneurial culture, social openness and agility.
"I expect a new split in the world in countries that understand this innovative change, and those who do not understand it," said Klaus Schwab, founder of the World Economic Forum. The WEF advocates open markets, but at the same time, possible losers of globalization must be protected. Redistribution and social protection systems would not be in conflict with higher competitiveness.