The Business Enterprise R&D Expenditure in Accommodation and Food Service Activities in Canada is forecasted to rise from $28.0 million CAD in 2024 to $34.0 million CAD by 2028. Comparing this with the 2023 expenditure (if it stood at about $26.0 million CAD) highlights a yearly growth rate for 2024 of approximately 7.7%. The compound annual growth rate (CAGR) over the forecast period is around 5.0%, indicating a healthy increment in R&D investment year-on-year.
Future trends to watch for:
- Impact of technological advancements on R&D spending.
- Government policies promoting innovation in the sector.
- Economic conditions influencing budget allocations in R&D.
