PH’s 2022 Global Innovation Index Rank Falls

The Philippines’ rank in the most innovative countries in the world fell just below ten spots, according to data from a World Intellectual Property Organization’s (WIPO) report that was published on Thursday.

The Philippines now ranks 59th overall in the 2022 Global Innovation Index (GII), with the WIPO report saying that the country performed best in business sophistication.

Moreover, WIPO also said that the Philippines is catching up in terms of innovation despite the dip in the rankings.

This comes as the Philippines has made strides in playing catch-up to the most innovative countries, according to WIPO.

The Philippines is currently ranked as the 5th country among lower-middle-income group economies, trailing India, Vietnam, Iran, and war-torn Ukraine. The country’s rank this year is lower than that of last year.

Meanwhile, the Philippines maintained its spot among 17 economies in South East Asia, East Asia, and Oceania regions, ranking 11th.

The country first cracked the top 50 in the index in 2020.

According to the Department of Science and Technology, the dip in this year’s ranking is due to lower Knowledge and Technology Outputs performance scores.

The Global Innovation Index (GII) tracks the most recent global innovation trends against the background of an ongoing COVID-19 pandemic, slowing productivity growth, and other evolving challenges, according to WIPO. (GFB)