In 2023, government-financed business enterprise expenditure on R&D in Canada stood at a notable benchmark. Looking forward, this expenditure is projected to exhibit a steady upward trend through 2028, beginning with $2.05 billion in 2024 and advancing to $2.56 billion in 2028. The year-on-year increases are consistent, indicating positive growth. The compound annual growth rate (CAGR) over this five-year period characterizes a healthy expansion in the government-supported R&D landscape.
Future trends to watch include:
- Potential policy changes affecting government support for R&D.
- Emerging technologies and sectors that could attract increased R&D investment.
- Global economic conditions influencing government budget allocations.
