In 2023, China's expenditure on higher education R&D funded by the business sector led globally with a stark margin of 18.02 billion USD PPP, Constant. The United States and Germany followed, with 3.88 and 3.21 billion USD, respectively. Noteworthy year-on-year increases include China by 14.54% and Russia by 6.66%. In contrast, Canada and Norway experience declines by 2.5% and 1.84% respectively. Long-term trends show China's dominance broadening, while Mexico, Croatia, and Argentina illustrate notable surges with 26.45%, 30.67%, and 19.82% growth respectively.
Looking forward, China's escalating investments indicate sustained growth in R&D funding through business enterprises. Emerging markets like Mexico and Argentina present untapped potential, reflecting a broader trend of increasing business-funded R&D in developing economies, impacting global dynamics in innovation and higher education.
Top countries in Higher Education Expenditure on R&D Financed by the Business Enterprise Sector by Country
| # | 10 Countries | Million US Dollars PPP, Constant | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 18,020 | 2023 | +6.66% | +14.54% | View data |
| 2 | 2 United States | 3,880 | 2023 | +1.57% | +0.35% | View data |
| 3 | 3 Germany | 3,210 | 2023 | +1.27% | +1.09% | View data |
| 4 | 4 United Kingdom | 1,780 | 2023 | +1.37% | +0.2% | View data |
| 5 | 5 Russia | 1,420 | 2023 | +6.03% | +6.66% | View data |
| 6 | 6 Canada | 807.57 | 2023 | +1.25% | -2.5% | View data |
| 7 | 7 Japan | 658.24 | 2023 | +0.19% | +0.33% | View data |
| 8 | 8 Italy | 556.07 | 2023 | +1.76% | +4.06% | View data |
| 9 | 9 Netherlands | 485.35 | 2023 | +2.16% | +0.53% | View data |
| 10 | 10 Taiwan | 465.09 | 2023 | +3.57% | +5.63% | View data |
