You are an innovative company looking for a new market?
Innovation is part of your company culture and you want to make it flourish abroad?
glocled has what you are looking for.
We selected some countries for you and are happy to share some insights about the most innovative and promising countries in the world.
In 2022, the World Intellectual Property Organization (WIPO) released its Global Innovation Index (GII).
The GII 2022 captures the innovation ecosystem performance of 132 economies and tracks the most recent global innovation trends. This index takes into account human capital, institutions, technology and creative output, market and business sophistication, among others.
They came up with a precise ranking, led by Switzerland, followed by the United States and then Sweden.
Switzerland, for the 12th year in a row, ranks first in the GII 2022. The United States (USA) climbs to 2nd position overtaking Sweden.
This index is also taking into account the level of development. This year has seen 26 countries outperforming on innovation relative to their development, including Indonesia, Uzbekistan and Pakistan.
What is also important to note: India, Kenya, the Republic of Moldova and Viet Nam hold the record by outperforming for the 12th year in a row!
Using this index will give you an insight into the most innovative countries but not only. It will also enable you to know the strengths and weaknesses of any of the 132 countries in terms of innovation.
Promoting your products or services there because of their openness for innovation might be a perfect cocktail to success. So why not expand your marketing in these countries?
It is also important to take into consideration the booming lower middle-income countries like India or Kenya.
These countries' economies are exponentially growing – and their innovation with it. If you want to be part of the first movers, this is the moment to take action.
This is where it gets extra interesting. Countries being open for innovations don’t necessarily lose this characteristic when being approached by new ideas or products coming into the market. This might be a great opportunity for you as a company to expand your marketing to other regions of the world!
Now you might say to yourself: “That would be great to do business there considering people’s openness and innovations.“
However, we know for a fact that marketing abroad isn’t always easy.
Many dimensions are to be taken into account, and many barriers can be on your way to expand in such countries.
The importance of understanding the cultural values of the local communities is something more than valuable, it is essential.
So, if you would like to do global marketing in high-innovative markets, come talk to us. We would be more than happy to help you with your expansion abroad!
Sources:
Global Innovation Index (GII) (wipo.int) (PDF: Global Innovation Index 2022 What is the future of innovation-driven growth? 15th Edition)
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