In 2023, Canada's higher education expenditure on R&D stood at an estimated value of around 37.8% of Total GERD. The forecast for 2024 to 2028 reveals a gradual upward trend, with annual increases averaging around 0.23%. This slow but steady increase indicates a positive outlook for investment in R&D within higher education over the next five years, translating into a Compound Annual Growth Rate (CAGR) of approximately 0.23% per year.

Trends to watch for include:

The potential impact of new government policies promoting R&D growth in academic institutions.
Technological advancements and digital transformation that could drive increased research activity and funding.
The influence of international collaboration on enhancing research capabilities and funding in Canadian universities.