ember 2010 / IP | Israel’s World Economic Forum ranking improves to 24th place, boosted by innovation

IP | Israel’s World Economic Forum ranking improves to 24th place, boosted by innovation

December 19, 2010

Global Competitiveness Report 2010-2011 placed Israel in the 24^th place with a GCI score of 4.91, an improvement of 3 places from the previous report.

Israel’s position is highly boosted by the “Innovation and sophistication” factors in which Israel is ranked 11^th !

Israel is ranked 43 out of 139 in Intellectual property protection, with its decent and effective court system and modern patent, trademark and copyright laws.

http://www3.weforum.org/docs/WEF_GlobalCompetitivenessReport_2010-11.pdf:

“Israel ranks 24th in this year’s GCI, up three positions after having suffered losses in competitiveness over the past years. The country’s main strength remains the

excellent—and improving—capacity for innovation (6th), which rests not only on highly innovative businesses but also on the availability of high-quality research institutions

and is reflected in a high number of patents. The favorable financial environment (14th) and, in particular, the availability of venture capital (10th) have further contributed to making Israel an innovation powerhouse. Future challenges to maintaining and improving national competitiveness relate to continued upgrading of institutions (33rd) and a renewed focus on raising the bar in terms of the quality of education. Low educational out-comes, in particular in the area of math and science, could, over the longer term, undermine the country’s innovation-driven competitiveness strategy if not addressed. As in previous years, the security situation remains fragile and imposes a high cost on business (73rd); room for improvement also remains” (pages 36-37)

12th pillar: Innovation