Israel ranked 22nd in Global Competitiveness
The World Economic Forum (WEF) ranks Israel 22nd in its 2011-12 Global Competitive Report, up two places from last year, and up five places from 2009.
The report states, Israel's main strengths remain its "world-class" capacity for innovation, derived from the presence of "the world’s best research institutions" and their collaborations with the business sector, and the high number of patents.
The report notes that increased budgetary discipline with a view to reducing debt levels would help the country maintain stability and support economic growth going into the future.
Israel's main advantages according to the current report are:
- Quality of scientific research institutions
- Venture capital availability
- Utility patents per million poplation
- Life expectancy
- Strength of investor protection
- Government procurement of advanced tech product
- Capacity for innovation
- Firm-level technology absorption
- University-industry collaboration in R&D
- Company spending on R&D
- Nature of competitive advantage
- Legal rights index
- Availability of scientists and engineers
Source: IMFA
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