Industrial Engineering and Management
Vol. 39 No. 08 (2024): Proceedings of Faculty of Technical Sciences
GLOBAL INNOVATION INDEX: MEASURING INNOVATION IN THE WESTERN BALKANS REGION
Abstract
This paper, through the analysis of the Global Innovation Index reports, conducts a comparison of indicators within the "Human Capital and Research" sub-index, which represent relevant indicators of the state of the educational system, culture of innovation, and economic prosperity for the Western Balkans region in comparison to Switzerland. The reason for choosing these two regions for the comparative study stems from the fact that Switzerland ranks as the topmost innovative country in the world on the Global Innovation Index, while Western Balkan countries face challenges in economic and social development. Based on the insights gained from the analysis, the conclusion provides specific recommendations and corrective measures that can be implemented to help the Western Balkans region follow the best practices from Switzerland and contribute to the future economic prosperity of the region.
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