In 2023, Belgium led European investments in R&D for Financial Services and Insurance at 51.92 Euros per capita, followed by Finland and Sweden. Portugal and Italy saw notable growth, with 9.15% and 2.57% increases respectively. Conversely, Sweden and Poland experienced declines, with Sweden seeing a -2.41% change. Belgium's significant 11.8% increase highlights its aggressive push in these sectors. Over the past five years, these variations suggest a shifting focus towards digital transformation and innovation in financial services, with Belgium playing a pivotal role.
Looking forward, countries with high current growth such as Portugal and Belgium are likely to continue leading the charge in R&D. The trend towards digitalization, AI integration, and fintech innovations will drive investments, particularly in Northern and Western European countries. Monitoring the impacts of regulatory changes on R&D investment and collaboration among EU nations will be essential factors influencing future expenditure patterns.
Top countries in Business Expenditure on R&D in Financial Services and Insurance by Country
| # | 10 Countries | Euros Per Capita | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Belgium | 51.92 | 2023 | +6.62% | +11.8% | View data |
| 2 | 2 Finland | 19.61 | 2023 | +0.57% | +0.37% | View data |
| 3 | 3 Sweden | 16.32 | 2023 | -0.12% | -2.41% | View data |
| 4 | 4 Portugal | 13.39 | 2023 | +3.1% | +9.15% | View data |
| 5 | 5 Italy | 5.8 | 2023 | +3.54% | +2.57% | View data |
| 6 | 6 Poland | 3.87 | 2023 | +5.34% | -0.85% | View data |
| 7 | 7 Czech Republic | 3.63 | 2023 | +4.76% | +6.85% | View data |
| 8 | 8 Spain | 3.2 | 2021 | View data | ||
| 9 | 9 Hungary | 2.87 | 2021 | View data | ||
| 10 | 10 Croatia | 1.76 | 2023 | +25.11% | View data |
