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GCC countries struggling with innovation readiness
Companies in the GCC prioritise innovation more than ever , with 85 % of senior executives in the region ranking it among their organisations ' top priorities , slightly above the global average . This strong commitment to innovation reflects the region ' s ambition to lead the global knowledge economy .
A new report released by Boston Consulting Group ; BCG highlights this positive trend while noting opportunities for GCC firms to enhance their innovation readiness .
For its annual innovation study , Innovation Systems Need a Reboot , BCG assessed companies ' innovation maturity and surveyed senior innovation executives worldwide , including those in the GCC region .
While innovation continues to demonstrate value , the study shows that innovation systems globally need a reboot . Innovation priority remains at an all-time high , with 83 % of global companies ranking it as a top-three priority . However , innovation readiness has sharply declined worldwide , from 20 % two years ago to 9 % last year and just 3 % this year globally .
This global trend is even more pronounced in the GCC , where firms exhibit even lower innovation readiness than the global average . The study reveals that while GCC organisations prioritise innovation at
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