Forecast: R&D Expenditure in Thailand

The actual R&D expenditure in Thailand has shown a steady increase from 2013 to 2023. Starting at 0.44% of GDP in 2013, the value reached 1.72% in 2023, signifying solid growth over the past decade. The variation in growth has fluctuated, with the highest year-on-year increase observed in 2017 at 28.7% and a more moderate 8.18% in 2023. The CAGR over the last five years stands at 9.08%, reflecting a consistent upward trend.

Looking forward, forecasted data suggests that R&D expenditure will continue to rise, achieving 2.36% by 2028. The next five years are expected to grow at a CAGR of 5%, indicating a slightly subdued but still positive growth trajectory. The overall forecasted growth rate for the period is 27.63%.

Future trends to watch for include investments in technology and innovation, government policy changes influencing R&D spending, and potential global economic impacts that could alter the forecasted upward trend. Stakeholders should monitor these factors closely to strategize and adapt to the evolving R&D expenditure landscape in Thailand.