This study comparatively analyzes the economic, social, and technological factors determining the innovation performance of developed and developing countries within a holistic multi-criteria decision-making (MCDM) framework, using data from 2013 and 2021. The criterion weights determined by CRITIC and SWARA, and the WEDBA results, indicate a significant structural shift between the periods. In developed countries, R&D expenditures, patent production, and intellectual property protection are key determinants of innovation performance; while in developing countries, digital infrastructure, human capital, and education investments stand out. The findings reveal that innovation policies based on strategic priorities specific to country groups are more effective.