In 2023, the UK's Gross Domestic Expenditure on R&D was 3.15% of GDP. For 2024, a steady increase to 3.24% is forecasted, continuing up to 3.6% by 2028. This indicates a consistent year-on-year growth of approximately 2.78%. Over the last five years, the compound annual growth rate (CAGR) is projected at 2.66%, reflecting a positive and stable trend in R&D investment.
Future trends to watch for include changes in government policies, potential impacts of Brexit on multinational funding, and technological advancements driving increased expenditure. Tracking these factors is crucial for understanding future R&D investment shifts in the UK.
