Europe’s Top Innovative Economies
April 15, 2024 EA Editor

Europe houses many innovative companies and startups.

Europe’s innovation landscape shows significant public R&D spending but falls behind China and the US in private investment in research and development.

EU is investing in AI, quantum computing, and microelectronics projects, with notable European innovators including Novo Nordisk A/S, Accenture plc, and TotalEnergies SE. Each player is making strategic moves to advance technology and innovation in the region.

The ranking of the most innovative economies in Europe was determined through a methodology involving metrics such as R&D expenditure, high technology exports, and Digital Adoption Index (DAI). Each country was evaluated based on these metrics and assigned a score, with weights given to each metric.

The top 12 innovative economies in Europe, according to this ranking, include:

  1. Germany
  2. Belgium
  3. Netherlands
  4. Switzerland
  5. Austria
  6. Sweden
  7. United Kingdom
  8. France
  9. Finland
  10. Denmark
  11. Czechia
  12. Italy

Italy, for example, spent 1.45% of its GDP on R&D in 2021 and reported high technology exports of $38.9 billion. Similarly, Czechia invested 1.99% of its GDP in R&D and reported high technology exports of $41.3 billion in 2021.

The rankings highlight the innovative efforts and investments made by European countries to advance technology and research in various sectors.