In a notable ascent, Thailand has climbed to its highest position in over a decade in the Global Innovation Index (GII) 2024, securing the 41st spot among 133 countries. This marks a significant step forward in the nation’s ongoing efforts to solidify its status as an innovation leader on the global stage.
The GII 2024, administered by the World Intellectual Property Organization (WIPO), highlighted Thailand’s consistent improvement, praising its efficient use of resources to generate substantial innovation outputs.
According to Dr. Krithpaka Boonfueng, Executive Director of Thailand’s National Innovation Agency (NIA), the country’s score of 36.9 reflects advancements across various innovation pillars. The report showed Thailand improving in the Innovation Input Sub-Index (moving up to 41st from 44th), which assesses the foundational components such as government efficiency, human capital, and infrastructure that support innovation activities. Thailand also progressed in the Innovation Output Sub-Index (moving up to 39th from 43rd), which measures the results of these efforts like new patents and technology products.
“This progress reflects the efficiency of innovation inputs in generating greater innovation outputs, exceeding the level of investment put in to enhance innovation capabilities,” Dr. Krithpaka said.
Notably, the GII 2024 report often paired Thailand and Vietnam in its commentary, showing both countries moving closer to the top 40 nations in the GII and highlighting their strong performances in trade-related metrics.
Vietnam leads globally in high-tech exports, imports, and creative goods exports. Similarly, Thailand is highly ranked, securing seventh place in creative goods exports and eighth in high-tech exports. Additionally, Thailand is noted for its robust utility models and domestic credit to the private sector, ranked fifth and eighth, respectively. In contrast, Vietnam shines in labor productivity growth and mobile app creation, standing at third and seventh globally. Both countries were also recognized for their strong global brand presence, with Vietnam ranked 22nd and Thailand 26th worldwide.
This year, Thailand’s national competitiveness ranking also rose to 25th from 30th last year in the IMD World Competitiveness Yearbook 2024, demonstrating the effective implementation of policies that support technological advancement and innovation.
The report comes at a time when Prime Minister Paetongtarn Shinawatra has been actively fostering Thailand’s digital economy, promoting significant public-private partnerships and enhancing the capabilities of the local workforce to meet the demands of a modernizing economy. More recently, she has engaged in talks with major tech firms like Western Digital during her recent stopover in Los Angeles, California as well as with Google, Microsoft, and TikTok on the sidelines of her participation in APEC Peru 2024.
The Prime Minister’s discussions underscored a commitment to enhancing Thailand’s digital infrastructure and innovation ecosystem, pivotal for the country’s economic and social advancement. These initiatives are crucial as Thailand strives to not only improve its innovation indices but also strengthen its overall competitiveness on the global stage.
As Thailand celebrates its climb in the GII, it also looks forward to sustaining momentum through strategic investments and collaborations that promise to further enhance its innovation landscape and economic development.
Paul Rujopakarn