With two weeks left of the year, it’s only natural to look back and reflect on the last twelve months – the successes, the failures, the trends. It’s also natural to look ahead to the coming year and do some soul-searching – what do I want to accomplish, what went well, what could I have done differently. Just like individuals make New Year’s resolutions, countries keep up with the latest developments in the global economy and adjust their business practices accordingly. These countries certainly have. According to the Global Innovation Index, the following countries led the world in innovation in 2019:
- United States
- United Kingdom
- South Korea
Apart from being predominantly European, what else do these countries have in common? There are 80 factors that determine a country’s ranking, including but not limited to: research and development expenditure, patent and trademark applications, mobile app creation, and high-tech exports. Based on the numbers, it is clear that Switzerland is leading the world in these factors. It’s also clear that in our globalized world, it’s easier than ever to learn from each other. As the global economy grows, businesses will be able to connect in a way that wouldn’t have been possible in the past. Thanks to the Internet, geographical limitations no longer matter. It’s likely that the global economy will take a page out of the leading innovators’ book and spend more time on research, development, digitalization, and technology.
Only time will tell which countries will join the list. To learn more about growing your business in 2020, visit us at https://www.expenseanywhere.com/ or call us at 412-858-1111.