Science, Technology and Innovation and their Impact on Economic Prosperity

The last few decades have seen exponential growth and advancement in science and Technology. These changes have been brought about by innovative and creative thinking in the same sector. It saw the rise and prosperity of nations in Trade and other societal relations. This article attempts to expound the scope of this consideration. Many countries have bolstered economic activities by just trying to concentrate their resources on developing their faculties responsible for science, technology and Innovations. If at least 3.5 percent of a nation’s total Gross Domestic Product (GDP) channeled towards investing in innovation, science and technology, new milestones and heights could achieve in development that up to date considered out of reach. This statement is according to the Thomson Reuters Foundation, London.