From 2024 to 2028, the UK's business enterprise expenditure on R&D as a percentage of GDP is projected to gradually increase from 2.17% to 2.27%. This trend indicates a positive growth rate, with a slight but consistent year-on-year increase. Compared to 2023, these forecasted figures suggest a modest expansion in R&D investment relative to GDP. The compound annual growth rate (CAGR) over this five-year period is indicative of a stable commitment to bolstering R&D activities.
Future trends to watch include advancements in technology sectors, government policies impacting R&D tax credits, and evolving global competitive pressures that may influence the rate of R&D investment.
