Innovating, but rather slowly
Greece’s progress in the global innovation index is hindered by perennial problems that the country faces, such as the absence of a stable regulatory framework, as well as the incomplete interconnection of universities with industry at the level of research and development.
While Greece has talent and graduates that are in demand in the domestic and global labor markets, chronic weaknesses are holding the country back in terms of innovation at a time when other economies have hit the gas and are making significant leaps in this direction.
According to the index of the World Intellectual Property Organization (WIPO), which measures the performance of countries worldwide in terms of innovation (Global Innovation Index 2024) through 80 indicators, Greece ranked 45th among 133 countries in 2024 and 28th among 39 European economies (among them Bosnia-Herzegovina, Albania, Belarus, Montenegro etc). The 44th place went to Vietnam, while Greece is followed by Slovakia (46th).
However, Greece is losing ground, as last year it ranked higher on the list, in 42nd, which shows that progress in innovation is taking place at a comparatively slower pace.
