Lack of R&D spending hurts Canada in WEF rankings

September 5, 2014

The World Economic Forum (WEF) has ranked Canada 15th out of 144 countries in its annual world competitive index. Canada has dropped one spot from last year’s ranking, due in part to its performance in innovation. WEF Chief Economist Jennifer Blanke said that Canada “really gets the basics right” but did not score as well on advanced measures, including spending on research and development. The country was 27th in the world in private-sector R&D spending, and 19th in university/industry collaboration. Moreover, Canada ranked just 48th in government procurement of advanced technology, seen as a key driver of technological innovation. Canada also underperformed in the WEF’s assessment of education and training, finishing 23rd in secondary enrolment and 45th in postsecondary enrolment. Globe and Mail