The Global Innovation Index (GII) 2024, published by the World Intellectual Property Organization (WIPO), highlights in the top 10: Switzerland, Sweden, United States, Singapore, United Kingdom, South Korea, Finland, Netherlands, Germany and Denmark, in that order.

Compared to these innovative economies, this region shows a clear gap. However, some countries in this part of the world have shown progress.
The most notable case in the Central America is Costa Rica, which entered among the 70 most innovative countries in the world, being recognized as a regional leader mainly in the dimensions of “labor productivity growth” and “exports of information technology services” (TIC).

Much of Costa Rica’s progress was due to its alliance with the United States Government to develop its semiconductor supply chain for the national digital transformation. This technology is fundamental for the creation of new products in different areas of the economy, from transportation to medicine, agriculture and more. In fact, Costa Rica has also advanced in its agricultural biotechnology regulations, which will allow it to develop more innovations in this field.

To get a general idea, let’s mention the positions of some other Central American countries in the Index: Panama (82nd place), Dominican Republic (97th), El Salvador (98th), Honduras (114th), Guatemala (122nd).

The WIPO Index ranks 133 economies and this year focused on innovation in emerging economies that challenge traditional leaders. In that regard, the countries that have progressed most rapidly in innovation in the last ten years have been: China, Turkey, India, Vietnam and the Philippines, according to the Index.