Asia Business Channel

Bloomberg Innovation Index 2019 – Asia ranks at the top

Asia countries continue to take top honors in the latest Bloomberg Innovation Index for 2019. The index is now in its seventh year, and analyses dozens of criteria using seven metrics to produce its results. Criteria used include research and development spending, manufacturing capability and concentration of high-tech public companies.

The 2019 ranking process began with more than 200 economies. Each was scored on a 0-100 scale based on seven equally weighted categories. Nations that didn’t report data for at least six categories were eliminated, trimming the total list to 95.

Bloomberg’s list of the Top 60 “Innovative” Economies:

1 South Korea Score – 87.38 2018 Position – 1
6 Singapore Score – 84.49 2018 Position – 3
9 Japan Score – 81.96 2018 Position – 6
16 China Score – 78.35 2018 Position – 19
26 Malaysia Score – 67.61 2018 Position – 36
38 Hong Kong Score – 58.90 2018 Position – 37
40 Thailand Score – 57.77 2018 Position – 45
60 Vietnam Score – 45.92 2018 Position – NR

The Republic of Korea continued to stand in first place, followed by Germany. A number of other emerging economies appeared in Bloomberg’s rankings for the first time, including the United Arab Emirates, India, Mexico and Saudi Arabia.

Vietnam’s total score was 45.92 points, compared with 87.38 points for the Republic of Korea. Vietnam had the lowest score of 34 points in high-tech density and the highest score of 59 points in productivity criteria. In Southeast Asia, Singapore (6), Malaysia (26) and Thailand (40) all featured in the rankings.

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