Many analysts put the United States on a pedestal thanks to the nation’s leading role in innovation. The United States is home to the world’s capital of scientific and technological progress, Silicon Valley. Today, this global center for high technology and innovation is primarily focused on artificial intelligence. Impressive progress in this field promises to make the already strong American economy even more productive and sustainable. In addition, the United States boasts one of the highest GDP per capita in the world, which exceeds $69,000.
This Asian country has one of the highest education indices in the world. It also houses such renowned tech firms as Samsung, LG, and Daewoo. Above all else, South Korea is one of the world leaders in innovation. Among all developed countries, it spends the largest share of gross domestic product on research and development work. South Korea's GDP per capita is almost $35,000, one of the highest in Asia.
Denmark has one of the most digitized economies in the European Union. Moreover, it has a tech-savvy population and excellent IT infrastructure. On top of that, that country is taking the lead in renewable energy. About 50% of electricity in the country comes from wind and solar energy. What is more, Denmark is included in the list of the richest countries in the world. Its GDP per capita is estimated at approximately $68,000.
Switzerland with GDP per capita of $93,000 is also one of the wealthiest countries in the world. The economy owes its success to innovative technologies. With a shortage of natural resources, Switzerland has always relied on innovation. Higher education plays an important role in maintaining the country's innovative potential. The Swiss Federal Institute of Technology and the Federal Polytechnic School of Lausanne, which are among the top 20 universities in the world, file for about 200 patents every year.
Sweden, having GDP per capita of $60,000, is recognized by many as the European Silicon Valley. Indeed, Sweden is the world’s third country by the number of start-ups and the second after the United States by the number of unicorn companies (those that exceed a valuation of $1 billion). In addition, Sweden has a strong social safety net that encourages entrepreneurs to take greater risks, thus encouraging innovation.
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