In 2023, the global business enterprise expenditure on R&D financed by higher education and private non-profit sectors varied significantly across countries. The Netherlands and Belgium led with a value of 0.016% of GDP, while Cyprus recorded the lowest at 0.000012%. Countries like Iceland (36.93%) and Hungary (36%) experienced significant positive changes, whereas Canada (-36.73%) and Cyprus (-27.16%) saw substantial decreases. The growing investment trend in Poland, Iceland, and Hungary contrasts with declines in Slovenia, Cyprus, and Canada, highlighting regional disparities.
Future trends to watch include increased R&D investment in developing technologies and sustainability as digital transformation accelerates and global challenges such as climate change drive innovation. Countries with increasing R&D expenditure will likely enhance their competitive advantage in technology and innovation sectors.
Top countries in Business Enterprise Expenditure on R&D Financed by the Higher Education and Private Non-Profit Sectors by Country
| # | 10 Countries | Percent of GDP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Netherlands | 0.016 | 2023 | +1.76% | +4.55% | View data |
| 2 | 2 Belgium | 0.016 | 2023 | +1.63% | +15.55% | View data |
| 3 | 3 New Zealand | 0.014 | 2021 | +6.73% | View data | |
| 4 | 4 United Kingdom | 0.012 | 2021 | -8.44% | View data | |
| 5 | 5 Sweden | 0.005 | 2023 | +4.65% | +3.06% | View data |
| 6 | 6 United States | 0.004 | 2023 | +1.97% | +10.38% | View data |
| 7 | 7 Spain | 0.003 | 2023 | +5.58% | +15.08% | View data |
| 8 | 8 Japan | 0.003 | 2023 | +1.44% | +8.27% | View data |
| 9 | 9 South Korea | 0.002 | 2023 | +3.81% | +1.77% | View data |
| 10 | 10 Italy | 0.002 | 2023 | +2.15% | +14.47% | View data |
