The forecasted expenditure on higher education R&D in Canada shows a consistent decline from 2024 at $10.41 billion to 2028 at $9.35 billion. Compared to 2023, this indicates a downward trend beginning in 2024. The year-on-year variation indicates a decreasing trajectory, with expenditure dropping by approximately 2-3% annually over this period. The cumulative average growth rate (CAGR) from 2024 to 2028 suggests a steady reduction in funding, signaling potential concerns in sustaining R&D activities.
Future trends to watch for include:
- Shifts in government budget allocations for higher education research.
- Pressure on universities to seek alternative funding sources.
- Impact on innovation and global competitiveness of Canadian research output.
