Country Ranks in Top 10 of Income Bracket
Washington, DC, June 19, 2017 (MACP) — Morocco leads North Africa and is among the top 10 countries in its income bracket according to the 2017 Global Innovation Index (GII), released last week and coauthored by Cornell University, INSEAD and the World Intellectual Property Organization.
Each year, the GII surveys some 130 economies using dozens of metrics, from patent filings to education spending, according to the accompanying release. The rankings “capture elements of the national economy that enable innovative activities” (such as human capital and research, infrastructure, and market sophistication) as well as “the results of innovative activities within the economy.” In this latest edition, Morocco led North Africa and ranked 72nd overall out of 127 countries, and seventh out of 27 lower-middle-income economies. Morocco was also noted as a standout performer in agricultural labor productivity.
This latest report is one of many industry and business indices of recent years awarding Morocco high marks. Earlier this year, Morocco was again named among the 50 most innovative economies in the world and one of just two such economies in Africa by the 2017 Bloomberg Innovation Index. In September last year, the World Bank’s 2017 “Doing Business” report ranked Morocco 68 out of 190 countries in ease of doing business—a two-spot gain over the previous year—making it number one in North Africa and fourth overall in the greater Middle East/North Africa region. KPMG International and Oxford Economics’ 2015 Change Readiness Index (CRI) ranked Morocco as the most “change-ready” country in the Maghreb, with particularly positive results in the category of “enterprise capability.” And in 2014, the Wall Street Journal’s Frontiers/FSG Frontier Markets Sentiment Index reported that Morocco is among the top ten frontier markets—and the only one in the Maghreb—most favored by foreign corporations.
“It’s no accident that again and again, Morocco is recognized for its innovation and growth,” said former US Ambassador to Morocco Edward M. Gabriel. “That the country has established a track record of success in these areas is a testament to the leadership and vision of King Mohammed VI, and the hard work and determination of the Moroccan people to achieve progress.”
Contact: Jordana Merran, 202.470.2049
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