Philippines Maintains Its Dynamic Position as a Strong Over Performer in 2024 Global Innovation Index

GENEVA 30 September 2024 – The 2024 Global Innovation Index (GII) was launched at the World Intellectual Property Office (WIPO) Headquarters on 26 September 2023, wherein PH ranked 53rd out of 133 economies, an improvement to 2023’s ranking of 56th place. The theme for this year’s report is “Unlocking the Promise of Social Entrepreneurship”, exploring how new social entrepreneurship ventures are finding innovative solutions to address critical societal issues.

The Global Innovation Index (GII) is an economic tool that drives development by capturing the multi-dimensional facets of innovations, and adopts a system of ranking based on actionable tools by economies that include institutions, human capital and research, infrastructure, credit, investment, linkages, the creation and absorption of knowledge, and creative outputs. 

PH ranked 3rd among the 38 lower-middle-income group economies, performing above the lower middle-income group average in all GII pillars. PH’s main innovation strengths are in high-tech imports (rank 4th), high-tech exports (rank 1st) and utility models by origin (rank 13th).

Permanent Representative Carlos D. Sorreta of the Philippine Permanent Mission in Geneva represented the Philippines at the official launch ceremonies of the 2024 Global Innovation Index (GII) at WIPO headquarters. He attended both the Ambassadors' breakfast and the main event.

Ambassador Sorreta noted that the Philippines is considered as one of the “strong overperformers over time”, exceeding expectations for its level of development. 

WIPO had also described the Philippines as one of the decade’s innovation achievers.

With the launch of the GII, the PH dynamic rise in the ranking continues for the second straight year after the end of the pandemic. In 2023, President Ferdinand Marcos, Jr. launched the National Innovation Agenda and Strategy Document (NIASD) 2023 to 2032 which outlined key actions and adopted a comprehensive strategy to boost the country’s innovation ecosystem as a vital tool for a broad, sustainable, and inclusive socio-economic growth.  END

For more information, visit https://www.genevapm.dfa.gov.ph,  https://www.facebook.com/PHinGeneva/ or https://www.instagram.com/phingeneva/.