In 2023, Belgium led European business expenditure on R&D in services, with a substantial 13.02% increase, reaching 4.79 billion euros. Following Belgium, Spain, and Poland displayed significant R&D focus, while Poland saw a 9.98% increase. Italy experienced a slight contraction at -2.26%. Notably, emerging countries like Portugal (16.52%) and Slovakia (16.67%) showcased robust growth rates, emphasizing service sector investments. Meanwhile, Finland, the Czech Republic, Malta, and Serbia demonstrated moderate year-on-year increases. Croatia showed no growth, and Bosnia and Herzegovina had minimal investment.
Future trends to watch include potential continued growth in emerging economies, increased emphasis on digital transformation, and the influence of EU funding initiatives, which could drive innovation across the region.
Top countries in Business Expenditure on R&D in Services by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Belgium | 4,790 | 2023 | +6.88% | +13.02% | View data |
| 2 | 2 Spain | 4,640 | 2021 | View data | ||
| 3 | 3 Poland | 3,770 | 2023 | +8.35% | +9.98% | View data |
| 4 | 4 Italy | 3,610 | 2023 | -0.86% | -2.26% | View data |
| 5 | 5 Finland | 1,780 | 2023 | +5% | +8.81% | View data |
| 6 | 6 Czech Republic | 1,640 | 2023 | +14.26% | +13.94% | View data |
| 7 | 7 Portugal | 1,410 | 2023 | +12.49% | +16.52% | View data |
| 8 | 8 Hungary | 538.45 | 2021 | View data | ||
| 9 | 9 Slovakia | 273.05 | 2023 | +10.75% | +16.67% | View data |
| 10 | 10 Croatia | 190.31 | 2023 | +13.06% | View data |
