How is creativity connected to global economic development? A new study by the Martin Prosperity Institute, titled the Global Creativity Index 2015, presents a new model of economic development. It calls this the “3Ts” – talent, technology and tolerance – and ranks 139 nations on each of these pillars, as well as their overall measure. The three dimensions are described as follows:
1. Technology – Research and development investment, and patents per capita
2. Talent – Share of adults with higher education and workforce in the creative class
3. Tolerance – Treatment of immigrants, racial and ethnic minorities, gays and lesbians
The study says that in the knowledge economy, where consumption and production are based on intellectual capital, the 3Ts and overall creativity are linked closely to economic and social development.
So which country comes top of the overall ranking, and is the most creative economic performer?
As this index shows, Australia takes the top spot, followed by the United States and New Zealand. Canada is fourth, with Denmark and Finland going for a joint fifth. Sweden is in seventh, Iceland eighth, followed by Singapore and the Netherlands.
South Korea leads in technology, Australia in talent and Canada takes the top spot for tolerance.
Read the full study here.
Author: Jenny Soffel is website editor at the World Economic Forum
Image: Workers walk on the roof of the Beijing South Railway Station. REUTERS/Jason Lee