Poland moves up in Bloomberg innovation ranking

Poland has advanced one position (from 23rd to 22nd) in the Bloomberg Innovation Index which ranks the most innovative countries in the world. South Korea remains in top spot, while second place this year is taken by Sweden, pushing Germany down into third place. The country that saw the biggest drop in the ranking was Russia, falling from 12th position to 26th place. Poland is the highest ranked country from CEE, finishing ahead of Hungary and Czechia, which came in 27th and 28th place respectively. The Bloomberg ranking takes seven factors into account including: the percentage of GDP spending on research and development, the share of production added in the GDP, labor productivity per employee, the percentage of highly technologically advanced companies from all domestic companies, the local coverage of higher education, the percentage of people involved in research and development in the general population and local patent activity.