In 2023, Sweden led European business expenditure on R&D in business services with 5.91 billion euros. Belgium saw the highest growth among the top spenders with a 14.1% increase year-on-year, while Finland experienced significant growth of 11.03% despite lower absolute spending. Portugal recorded remarkable growth at 14.57%, reflecting a robust prioritization of R&D in the region.
Looking forward, expect continued robust R&D expenditure in leading countries like Sweden and Belgium. The focus will likely shift towards digital transformation and sustainable practices, propelling technology-driven sectors. Emerging markets in Central and Eastern Europe may also increase their R&D investments to spur competitiveness.
Top countries in Business Expenditure on R&D in Business Services by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Sweden | 5,910 | 2023 | +7.27% | View data | |
| 2 | 2 Belgium | 4,890 | 2023 | +10.05% | +14.1% | View data |
| 3 | 3 Spain | 4,140 | 2021 | View data | ||
| 4 | 4 Italy | 3,820 | 2023 | +4.76% | +1.74% | View data |
| 5 | 5 Poland | 3,670 | 2023 | +8.77% | +11.63% | View data |
| 6 | 6 Finland | 1,910 | 2023 | +11.11% | +11.03% | View data |
| 7 | 7 Czech Republic | 1,350 | 2023 | +4.2% | +9.36% | View data |
| 8 | 8 Portugal | 1,320 | 2023 | +11.38% | +14.57% | View data |
| 9 | 9 Hungary | 462.79 | 2021 | View data | ||
| 10 | 10 Slovakia | 200.44 | 2023 | +5.93% | +14.23% | View data |
