In 2024, China led global higher education expenditure on R&D financed by the business sector, accounting for a significant proportion, followed closely by Russia. Countries like Bulgaria and Taiwan showcased notable year-on-year growth variation, while others like Kazakhstan, Malaysia, and Lithuania experienced declines. The U.S., despite its technological prowess, had lower business sector financing in comparison. Emerging trends highlighted steady growth in Asian countries, with South Korea and Taiwan showing potential for continued expansion. Additionally, the rapid growth observed in Eastern European countries like Croatia and Malta indicates a shift towards higher business involvement in R&D.
Future trends to watch include increasing collaboration between Asian nations and business enterprises, reflecting their growing importance in the global R&D landscape. The European Union's digital and green transformations may further amplify R&D financing in its member states. Watch for fluctuating financing levels in economically volatile regions, while tech due diligence and global collaborations could redefine future allocations.
Top countries in Higher Education Expenditure on R&D Financed by the Business Enterprise Sector by Country
| # | 10 Countries | Percent of Total HERD | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 32.61 | 2023 | +0.019% | +4.19% | View data |
| 2 | 2 Russia | 30.46 | 2023 | +0.37% | +0.95% | View data |
| 3 | 3 Bulgaria | 18.84 | 2023 | +0.054% | -0.43% | View data |
| 4 | 4 South Korea | 14.03 | 2023 | -0.046% | -0.31% | View data |
| 5 | 5 Taiwan | 13.21 | 2023 | +4.36% | +5.88% | View data |
| 6 | 6 Germany | 12.95 | 2023 | -0.39% | -0.83% | View data |
| 7 | 7 Ukraine | 12.33 | 2023 | -1.15% | -0.48% | View data |
| 8 | 8 Kazakhstan | 11.35 | 2023 | -1.79% | -4.4% | View data |
| 9 | 9 Belgium | 11.28 | 2023 | +0.035% | +0.26% | View data |
| 10 | 10 United Kingdom | 9.31 | 2023 | +0.0091% | +0.16% | View data |
