What is the GII 2024 theme, and why is it significant?

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The Global Innovation Index 2024 focuses on "Unlocking the Promise of Social Entrepreneurship" to drive societal transformation.

The Global Innovation Index (GII) 2024 centres its theme around "Unlocking the Promise of Social Entrepreneurship." This focus is significant as it acknowledges the growing influence of social entrepreneurs who are developing innovative approaches to tackle critical societal challenges, thereby aiding policymakers and innovation support programmes in enhancing social entrepreneurship initiatives for greater impact and societal change.
Social Entrepreneurship as a Driver of Innovation

The GII 2024 theme underscores the rapid emergence of social entrepreneurs who are actively seeking novel solutions to pressing social issues. This emphasis helps guide policymakers and innovation support programmes in their efforts to expand and refine social entrepreneurship initiatives, ultimately aiming for a more profound societal impact and more effective transformation.
Thailand's Advancement in the GII 2024

Thailand has achieved a notable improvement in the GII 2024 rankings, moving up two places to 41st, its best performance in a decade. The country scored 36.9, an increase from its previous position. This progress is reflected in both the Innovation Input Sub-Index, which rose to 41st from 44th, and the Innovation Output Sub-Index, climbing to 39th from 43rd. This indicates that Thailand's innovation inputs are generating outputs that exceed the level of investment made.
Regional and Economic Performance

Thailand is recognised among countries that achieve better-than-expected results relative to their economic development level. Within the upper-middle-income economies, Thailand's innovation performance surpasses the average across all factors. Regionally, it ranks 9th out of 17 countries in Southeast Asia, East Asia, and Oceania, and maintains its 3rd position among ASEAN nations. Other ASEAN countries like Malaysia (33rd), Vietnam (44th), and Indonesia (54th) have also seen improvements in their rankings.
Key Factors Contributing to Thailand's Performance

Thailand's innovation capabilities have seen improvements across most of the seven key factors in the GII 2024 compared to the previous year. The Business Sophistication factor, in particular, has advanced two places to 41st. Crucially, the indicator for Gross Domestic Expenditure on Research and Development (GERD) financed by businesses has secured the global number one position for the fifth consecutive year, highlighting sustained private sector investment in research and development to bolster business innovation.

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What is the GII 2024 theme, and why is it significant?

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