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.
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When it comes to Science and Technology, Israel is considered the most dynamic country in the world according to Grant Thornton 2012 Index survey.
“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”, sayes the report, “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”.
The report says even more:” “Entrepreneurship is strong in Israel, especially in hi-tech industries. The economy not only has the largest number of biotech and overall start-ups in the world per capita, but also the third most NASDAQ-listed companies.”
In the overall Global Dynamism Index rankings, Israel is in eighth place with a mark of 61.8. Australia topped the list with 66.5 followed by Chile (64.5), China (62.7), New Zealand (62.6), Canada (62.3), Finland (62.3) and Singapore (61.9). Behind Israel in ninth and tenth place are Sweden (61.6) and Norway (60.9).
Singapore, Finland, Sweden, Israel and Austria occupy the top five spots for most dynamic economies in the world over the past 12 months, and indicates of the strength of each economy as a place for dynamic businesses to flourish. The United States ranks 10th (of 50), and China ranks 20th (of 50).