The Canadian government expenditure on R&D in Social Sciences, Humanities, and the Arts is forecasted to increase steadily from 2024 to 2028, starting at 327 million CAD and reaching 346 million CAD. Compared to 2023, where the expenditure was lower, this represents a consistent annual incremental growth. The year-on-year growth rate remains at approximately 1.5%, suggesting a modest but steady investment increase over these years. The Compound Annual Growth Rate (CAGR) for the period of 2024 to 2028 is projected to be around 1.4%.
Future trends to watch for include:
- Potential shifts in government priorities could alter funding levels in future budgets.
- Emerging fields within social sciences and the arts could attract additional investments.
- Economic conditions influencing governmental budget allocations to R&D.
