Insider Business Cyprus ranks 48th out of 95 countries in Bloomberg's Innovation Index

Cyprus ranks 48th out of 95 countries in Bloomberg’s Innovation Index

Bloomberg placed Cyprus in 48th place out of 95 countries in its 2019 Innovation Index.

According to Bloomberg, the annual Index “analyses dozens of criteria using seven metrics, including research and development spending, manufacturing capability and concentration of high-tech public companies.”

With a total score of 52.05, Bloomberg ranks Cyprus 52nd in research and development intensity, 59th in manufacturing value added, 35th in productivity, 30th in high-tech density, 55th in tertiary efficiency, 49th in researcher concentration and 33rd in patent activity.

In the 2018 Index, Cyprus was in 47th place.

With a total score of 87.38 six-time champion, South Korea retained the global crown in the 2019 Bloomberg Innovation Index, with Germany a close second (87.30).

The U.K. fell one spot to 18th and lost out to China (16th) for the first time.

“China’s score reflects a dichotomy in the world’s second-largest economy: it ranked No. 2 in patent activity on the strength of R&D from Huawei Technologies Co. and BOE Technology Group, but still lags behind most innovative alums in overall productivity,” Bloomberg writes.

Israel, was a big winner by jumping five spots to fifth overall.

Ten economies joined the ranking in 2019. The United Arab Emirates made the highest debut in 46th place. Also, among the new entrants are some of the world’s largest emerging economies: India, Mexico, Vietnam and Saudi Arabia.

Of the total list of 95, Bloomberg publishes the top 60 economies.

Top Stories

188 new cases of COVID-19 on Thursday

The Health Ministry announced 127 new COVID-19 cases on 22 October, out of 4,304 laboratory tests, taking confirmed infections to 3,154.   The break-down of new...

Confirmed COVID-19 cases in Ygia Polyclinic

Ygia polyclinic is informing the public that due to the fact that a small number of COVID-19 cases have been found among the staff...

President Anastasiades will not resign

President Nicos Anastasiades will not betray the decision of the big majority of the citizens and will complete his term, as the Constitution and...

Citizens request the resignations of those involved in illegal passports’ case

In an announcement, organized groups of people are requesting the immediate resignation of politicians directly or indirectly involved in the issuing of Cypriot passports...

New measures announced by Health Minister due to increase in number of COVID-19 cases

Face masks must be worn outside at all times, the Cabinet decided on Thursday. Moreover, stricter measures apply in all districts and partial lockdown...


Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...


No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...