The objective of the Global Innovation Index is to capture the multi-dimensional facets of innovation. Its 2021 edition studies around 80 indicators, grouped into “innovation inputs” and “innovation outputs”, of 132 economies in the world.
Luxembourg ranks 23rd, which is lower than previous years but still among the top tier of countries. Relative to GDP, the country’s performance is above expectations for its level of development. It also produces more innovation outputs relative to its level of innovation investments.
Luxembourg is in 1st place for 8 out of the approximately 80 indicators that make up the Global Innovation Index. Its top ranks includes indicators such as tertiary inbound mobility, ICT access, environmental performance, knowledge-intensive employment and intellectual property payments relative to total trade.
The 80 indicators are bundled together in seven main areas. Luxembourg’s best performance is in the area of creative outputs, where it ranks 3rd. It ranks 9th in the field of business sophistication.