In 2023, Sweden led business services R&D expenditure as a percentage of GDP, while Belgium and Portugal saw significant year-on-year growth at 11.66% and 11.71% respectively. Finland and Poland also experienced notable increases in R&D spending, whereas Croatia and Sweden remained stable with no growth. Italy and Slovakia displayed moderate increases. Serbia, Malta, and the Czech Republic saw modest rises. Over the past five years, these countries had varied Compound Annual Growth Rates (CAGR), reflecting diverse long-term trends.
Future trends to watch include:
- Emerging markets boosting R&D through digital transformation.
- Increased collaboration across Europe for innovation.
- Policy shifts influencing R&D dynamics post-2023.
Top countries in Business Expenditure on R&D in Business Services by Country
| # | 10 Countries | Percent of GDP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Sweden | 1.12 | 2023 | +6.49% | View data | |
| 2 | 2 Belgium | 0.95 | 2023 | +8.17% | +11.66% | View data |
| 3 | 3 Finland | 0.65 | 2023 | +3.17% | +6.02% | View data |
| 4 | 4 Poland | 0.61 | 2023 | +5.56% | +7.58% | View data |
| 5 | 5 Portugal | 0.57 | 2023 | +6.58% | +11.71% | View data |
| 6 | 6 Czech Republic | 0.53 | 2023 | +3.71% | +5.83% | View data |
| 7 | 7 Spain | 0.34 | 2021 | View data | ||
| 8 | 8 Serbia | 0.3 | 2023 | +15.21% | +5.67% | View data |
| 9 | 9 Hungary | 0.3 | 2021 | View data | ||
| 10 | 10 Croatia | 0.29 | 2023 | +6.72% | View data |
