The World Intellectual Property Organization (WIPO) released its annual edition of the Global Innovation Index (GII) that ranks the innovation performance of 129 countries and economies around the world. The GII is based on 80 indicators including money spent on R&D as well as the number of international patent and trademark applications and other factors.
According to the GII Switzerland, Sweden, USA, Netherlands and Great Britain are the most innovative countries. 12 of the first 20 ranks are held by European countries.
You can find the full report here.