In 2023, Italy had the highest European labour costs in high R&D intensive activities at 17.36 billion euros, followed by the Netherlands, Spain, and Belgium. The year-on-year growth was notable in Belgium (2.8%), Austria (2.2%), and Greece (2.68%), with Finland experiencing a decline (-1.04%). The five-year CAGR reveals a moderate growth trend across these countries, indicating a stable increase in labour costs towards 2024, with Southern and Eastern European countries like Slovenia, Greece, and Slovakia showing promising upward trajectories.
Looking ahead, countries are expected to maintain or accelerate growth in labour costs in high R&D intensive sectors. Factors such as technological advancements, increasing investments in innovation, and shifting economic policies will drive these trends. Monitoring evolving labour market dynamics and government incentives will be crucial for understanding each country's competitiveness in the R&D landscape.
Top countries in Labour Costs in High (2-Digit Definition) R&D Intensive Activities by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Italy | 17,360 | 2023 | +1.13% | +1.4% | View data |
| 2 | 2 Netherlands | 6,380 | 2023 | +1.72% | +1.8% | View data |
| 3 | 3 Spain | 5,600 | 2023 | +0.52% | +0.53% | View data |
| 4 | 4 Belgium | 5,440 | 2023 | +2.24% | +2.8% | View data |
| 5 | 5 Austria | 4,350 | 2023 | +2.22% | +2.2% | View data |
| 6 | 6 Finland | 2,580 | 2023 | -1.03% | -1.04% | View data |
| 7 | 7 Slovenia | 937.2 | 2023 | +2.25% | +1.87% | View data |
| 8 | 8 Greece | 908.52 | 2023 | +1.53% | +2.68% | View data |
| 9 | 9 Slovakia | 524.57 | 2023 | +2.4% | +2.72% | View data |
| 10 | 10 Estonia | 289.9 | 2023 | +2.95% | +2.87% | View data |
