Wednesday, November 7, 2012

Global Dynamism Index: Israel tops the tech list

When it comes to Science and Technology, Israel is considered the most dynamic country in the world according to the latest Grant Thornton 2012 Global Dynamism Index survey. As a matter of fact, Israel ranks in 4th position overall, above the US that sits in the 10th position and the UK which is 32nd in the list.

The Grant Thornton Global Dynamism Index (GDI) 2012, the second annual GDI survey, ranks 50 of the world's largest economies across 22 indicators of economic dynamism, examining five key areas: business operating environment; economics and growth; science and technology; labor and human capital; and the financing environment. This year’s survey looks at the progress each economy has made over the past 12 months, and indicates of the strength of each economy as a place for dynamic businesses to flourish. Singapore, Finland, Sweden, Israel and Austria occupy the top five spots for most dynamic economies in the world. The United States ranks 10th (of 50), and China ranks 20th (of 50).

According to the report, Israel offers the most dynamic science and technology environment by some distance, due principally to the large proportion of GDP which is spent on R&D (4.3%) – the aspect of science and technology business leaders identified as the most important. In the 1990s, Israel welcomed more than a million immigrants from the former Soviet Union into the country, many of them highly qualified scientists and engineers. The government capitalised on this influx of highly-skilled labour by creating a number of tax incentives for venture capital funds and business incubator programmes, to develop its hi-tech industry.

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