Singapore crowned as Asia's most innovative country

It has once again beaten Hong Kong.

Singapore is still Asia-Pacific's most innovative country, according to the 2015 Global Innovation Index.

The city-state retained its spot as the world's seventh-most innovative country. European countries dominated the list of 10 best performers, with Switzerland, the United Kingdom and Sweden taking the top three spots.

In Asia Pacific, Hong Kong came in second to Singapore in terms of innovation, placing 11th on the global list. Other top-performing Asia-Pacific countries include South Korea, New Zealand, Australia and Japan.

The GII is co-published by Cornell University, Insead and the World Intellectual Property Organization (WIPO). It covers 141 economies around the world and utilizes 79 indicators to gauge both innovative capabilities and measurable results.