Thailand Rises to 41st in Global Innovation Index 2024, Focuses on Social Entrepreneurship

Berita Baru, Bangkok – The Ministry of Higher Education, Science, Research, and Innovation (MHESI), through the National Innovation Agency (NIA), has announced the results of the Global Innovation Index 2024 (GII 2024) under the theme ‘Unlocking the Promise of Social Entrepreneurship.’ The index, organized by the World Intellectual Property Organization (WIPO), measures the innovation capabilities of 133 countries worldwide. Thailand has risen to 41st this year, improving by two ranks from the previous year. The announcement was accompanied by a forum on ‘Innovation System Development and Driving Thailand towards an Innovation Nation,’ held in partnership with key stakeholders in the innovation ecosystem, including the Thailand Science Research and Innovation (TSRI), the Ministry of Commerce, the Department of Intellectual Property, the Creative Economy Agency (Public Organization), the World Intellectual Property Organization (WIPO).

Dr Krithpaka Boonfueng, Executive Director of the National Innovation Agency (Public Organization) or NIA, revealed that this year’s GII focuses on unlocking the potential of social entrepreneurship. This theme reflects the rapid rise of social entrepreneurs seeking innovative solutions to address pressing social issues. The study in this area assists policymakers and innovation support programs in expanding and improving social entrepreneurship initiatives to create a broader impact, thereby transforming society more effectively.

“This year marks a positive milestone for Thailand’s innovation sector as the country has climbed to 41st place in the Global Innovation Index 2024, scoring 36.9, up from 43rd place. Thailand has shown improvements in both the Innovation Input Sub-Index, moving up to 41st from 44th, and the Innovation Output Sub-Index, climbing to 39th from 43rd. This progress reflects the efficiency of innovation inputs in generating greater innovation outputs, exceeding the level of investment put in to enhance innovation capabilities.”

“Thailand is classified among the countries that deliver better results than expected at its level of economic development. Compared with 34 upper-middle-income economies, Thailand’s innovation performance is above average in all factors. Similarly, in Southeast Asia, East Asia, and Oceania, Thailand ranks 9th out of 17 countries and remains 3rd among ASEAN nations. Most ASEAN countries have seen an improvement in their GII rankings, particularly Indonesia, which has made a significant leap of 7 places to 54th; Vietnam, which has risen by two places to 44th; and Malaysia, which has moved up by 3 places to 33rd,” Dr Krithpaka explained.

Dr Krithpaka also added that when examining Thailand’s innovation capabilities across the seven key factors, the country’s ranking has improved in nearly every category compared to last year. Notably, the Business Sophistication factor has climbed by two places to 41st. The indicator for Gross Domestic Expenditure on Research and Development (GERD) financed by businesses has maintained its global no. 1 spot for the fifth consecutive year. This underscores the private sector’s ongoing investment in enhancing business innovation capabilities through continuous research and development.

“Another significant aspect of today’s event is the gathering of a network of partners who will collectively drive Thailand towards becoming a globally recognized Innovation Nation. The forum on ‘Innovation System Development and Driving Thailand towards an Innovation Nation’ included key participants such as NIA, the Thailand Science Research and Innovation (TSRI), the Department of Intellectual Property (DIP) under the Ministry of Commerce, and the Creative Economy Agency (CEA). We also had the honor of welcoming WIPO representatives who joined the event online. This gathering demonstrates Thailand’s readiness and commitment to promoting the development of research, science, and innovation, utilizing intellectual property, and fostering the creative economy through the policies, missions, and key initiatives of each organization.”

“Today’s activities serve as a foundation for future collaboration among partners, aimed at systematically and comprehensively elevating innovation in line with the Global Innovation Index (GII) framework, steering Thailand towards becoming an Innovation Nation.”