The Philippines is steadily becoming more innovative as it faces the onslaught of domestic and global headwinds.
In the latest Global Innovation Index (GII) report, the Philippines rose to number 54 in ranking, up 19 notches from its previous ranking of 73 in 2018 and 2017.
The Philippines scored 36.18 out of 100, the report also showed. It classifies the Philippines as a lower middle income country.
But Socioeconomic Planning secretary Ernesto Pernia on Tuesday, July 23, said the country is expected to advance to upper middle income status by 2020.
The Philippines is ranked only two notches below India, which was ranked 52nd, a vastly more populous country which also happens to be its main competitor in the business process outsourcing (BPO) space.
By comparison, the three nations with the highest GII rankings in 2019 are Switzerland, Sweden, and the United States, scoring 67.24, 63.65, and 61.73 respectively.
Nigeria, Togo, and Yemen have the lowest GII score this year, ranking 127, 128 and 129 respectively.
The GII is an annually published ranking of a country’s capacity for, as well as its successes in innovation, according to a formula worked out by its publishers. The report is published by Cornell University, INSEAD and the World Intellectual Property Organization to track strides in innovation made by various nations. — Miguel Gil (PNA)