In 2023, Germany led Global Higher Education Expenditure on R&D funded by the business sector, with notable contributions from South Korea, China, Belgium, and the UK. Significant annual growth was observed in Argentina and Malta, while Hungary and Colombia experienced declines.
Key trends include:
- Croatia and Cyprus are emerging as rapidly growing contributors.
- China and Singapore maintain robust growth momentum.
- Established leaders like Germany and South Korea are seeing modest growth.
- Some nations like Canada and Sweden are witnessing contractions in business R&D funding.
Future trends to observe include increasing collaboration between academia and industry, driven by technological advancements and innovation needs across various sectors.
Top countries in Higher Education Expenditure on R&D Financed by the Business Enterprise Sector by Country
| # | 10 Countries | Percent of GDP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 0.077 | 2023 | +1.17% | +0.89% | View data |
| 2 | 2 South Korea | 0.067 | 2023 | +3.67% | +4.75% | View data |
| 3 | 3 China | 0.065 | 2023 | +2.46% | +9.16% | View data |
| 4 | 4 Belgium | 0.063 | 2023 | +0.5% | +1.58% | View data |
| 5 | 5 United Kingdom | 0.063 | 2023 | +1.82% | +1.1% | View data |
| 6 | 6 Canada | 0.042 | 2023 | -1.69% | -4.85% | View data |
| 7 | 7 Estonia | 0.041 | 2023 | +1.68% | -0.82% | View data |
| 8 | 8 Australia | 0.038 | 2023 | +4.01% | +4.34% | View data |
| 9 | 9 Russia | 0.035 | 2023 | +2.1% | +4.59% | View data |
| 10 | 10 Singapore | 0.032 | 2023 | +2.37% | +5.93% | View data |
