Japan Most Innovative Country, Study Finds

Japan is the world's most innovative nation, followed by Switzerland, the United States and Sweden, according to a new report from the Economist Intelligence Unit (EIU). The EIU ranked 82 economies based on their level of innovation in 2002-2006, using a methodology involving patents per million population, patent citations, direct and indirect innovation drivers, and a survey. The aims of the study, which is sponsored by Cisco, were to analyze the importance of innovation, then determine which countries innovate the best and why. To achieve this, the EIU compiled the ranking and also surveyed 485 senior executives worldwide on their opinions regarding innovation. Answers from the survey were used to set the weightings for the factors that drive innovation and to examine how and where companies innovate.