Muscat – Oman ranked 74th in the 2024 Global Innovation Index among 133 countries, slipping five places from 69th in 2023. Despite the overall drop, the sultanate performed well in areas such as human capital, research and infrastructure, in which it earned its highest scores.

The index, published by World Intellectual Property Organization, assesses innovation capability of nations based on roughly 80 indicators, focusing on both input and output of innovation. Oman improved its standing in several key areas, particularly innovation input, where it now ranked 59th globally – up six places from 2023.

Oman ranked among the top 20 countries in three sub-indicators: 12th for policy stability for doing business, second in the number of graduates in science and engineering, and 16th in electricity output/million people.

The index highlighted advancements in 22 sub-indicators for Oman, including a jump of 17 places in high-tech imports as a percentage of total trade, and a 12-rank improvement in government effectiveness.

Oman also climbed 11 places in entrepreneurship policies and culture index, ten ranks in production and export complexity index, and made similar gains in indices measuring the entertainment and media market, and research collaboration between industry and universities.

Oman ranked 47th among the 51 high-income economies and 13th among the 18 economies in North Africa and West Asia.

© Apex Press and Publishing Provided by SyndiGate Media Inc. (Syndigate.info).