Kuwait was ranked 77th with an overall score of 33.2 among 141 countries in the Global Innovation Index (GII) 2015 which was released Sunday. The index, which is co-published by Cornell University, Insead and World Intellectual Property Organization, uses 79 indicators in analyzing global innovation trends.Taking advantage of the wealth of information produced by the GII analysis in its past editions, the outcome of various innovation policies can be reviewed to support their claims to effectiveness and to determine the impact that an economy’s degree of development has on their efficacy.
According to the report, Kuwait’s strengths include ease of paying taxes, general infrastructure, electricity output, environmental performance, ease of protecting investors, market capitalization, total value of stocks traded, strategic alliance deals, knowledge diffusion, FDI net outflows and generic top-level domains.
Meanwhile, the weaknesses of Kuwait are as follows: cost of redundancy dismissal, gross expenditure on R & D, gross capital formation, venture capital deals, business sophistication, knowledge absorption, hi-tech imports less reimports, growth rate of PPP$ GDP/worker, ICTs and business model creation, and ICTs and organizational model creation. On the ranking of other GCC countries, Saudi Arabia is first in the GCC and 43rd globally, followed by the United Arab Emirates (UAE) at 47th, Qatar is ranked 50th, Bahrain is 59th and Oman at 69th.