Greece places low on the innovation scoreboard
Despite some progress, Greece remains stuck in 20th place among the 27 European Union members on innovation, according to the annual “European Innovation Scoreboard” report released by the European Commission.
It held the same place in 2010, when the financial crisis blew up in full force. While not the worst, Greece’s scores are at best middling and below the EU average.
The low score is reflected in low-, mid- and high-tech product exports, low corporate investment in research and development, and the fact that the great majority of enterprises are active in sectors of low added value. Low wage levels also reflect the innovation deficit.
According to the report, Greece’s innovation index – compiled from 32 sub-indices – is 83, when the EU average is 110. Greece is assessed as a “moderate innovator,” along with, in declining order, Slovenia, Spain, the Czech Republic, Italy, Malta, Lithuania, Portugal and Hungary, the latter the only one trailing Greece.
