Globally, the United States leads significantly in business enterprise expenditure on R&D financed by higher education and private non-profit sectors, followed by the United Kingdom and Germany. Notable year-on-year growth in 2023 is observed in Hungary, Poland, and Argentina, while Canada, Ireland, and Cyprus faced declines. Together, these trends suggest a shift towards increased R&D collaboration in several emerging markets, although traditional leaders like the US maintain dominance. Over five years, we see a solid CAGR across various countries, indicating steady investment in this sector.
Looking ahead, we can expect a continued upward trend in R&D financing by higher education and private non-profits as countries increase focus on innovation and collaboration. Particularly, emerging economies may witness greater growth as they strive to boost technological advancement and compete on the global stage. Monitoring fluctuations in these investments will be crucial to understand shifts in global innovation leadership.
Top countries in Business Enterprise Expenditure on R&D Financed by the Higher Education and Private Non-Profit Sectors by Country
| # | 10 Countries | Million US Dollars PPP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United States | 857 | 2023 | +3.89% | +13.37% | View data |
| 2 | 2 United Kingdom | 404.8 | 2021 | -0.17% | View data | |
| 3 | 3 Germany | 139.02 | 2023 | +1.69% | +2.45% | View data |
| 4 | 4 Japan | 129.82 | 2023 | +0.56% | +7.72% | View data |
| 5 | 5 Belgium | 116.3 | 2023 | +4.93% | +19% | View data |
| 6 | 6 Israel | 86.54 | 2023 | +2.95% | +3.6% | View data |
| 7 | 7 France | 63.33 | 2023 | +9.91% | +9.8% | View data |
| 8 | 8 South Korea | 48.7 | 2023 | +2.42% | -0.21% | View data |
| 9 | 9 Canada | 39.69 | 2023 | -4.61% | -28.25% | View data |
| 10 | 10 Spain | 37.96 | 2023 | +8.45% | +9.85% | View data |
