Technological readiness saw the greatest improvement which leaped 20 places to rank 3rd in the world, while market efficiency increased by 7 places. Israel ranked 1st for availability of scientists and engineers an improvement of 3 places from the previous year and 2nd for venture capital availability. Israel ranked 7th in the world for innovation.
Additional improvements were in macroeconomic management, market efficiency and various areas of infrastructure. Due to the large improvement in its overall ranking, Israel received a highlighted section in the report.
Chief Economist and director of the Global Competitiveness Network, Augusto Lopex-Claros, wrote in the report: "Israel has become a world technology powerhouse, and this is beginning to have favorable demonstration effect on the rest of the economy . . . Israel has benefited from the development of culture of innovation, supported by first-class institutions of higher education and scientific research ".
Published with permission of The Israel Export and International Cooperation Institute