In 2023, Australia led in employing R&D personnel within financial and insurance activities, with a slight yoy increase of 0.048%. Taiwan and Japan experienced significant growth at 9.0% and 14.81% respectively, indicating proactive R&D investments. The United Kingdom and Canada also showcased notable expansion. Conversely, countries like Spain, Lithuania, and Slovenia saw declines. Overall, the five-year CAGR highlights shifts towards enhancing research capabilities in emerging markets, especially in Asia.
Future trends to watch include a potential rise in R&D investments in countries experiencing technological advancements, such as South Korea and Taiwan, driven by increased fintech adoption. Additionally, North American countries might see more robust R&D growth as they leverage their resources to stay competitive on a global scale.
Top countries in Total Internal R&D Personnel in Financial and Insurance Activities by Country
| # | 10 Countries | Units (Full-Time Equivalent) | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Australia | 11,340 | 2023 | +0.83% | +0.048% | View data |
| 2 | 2 United Kingdom | 6,310 | 2023 | +3.22% | +0.56% | View data |
| 3 | 3 Taiwan | 5,190 | 2023 | +7.22% | +9% | View data |
| 4 | 4 Canada | 2,680 | 2023 | -0.48% | +3.26% | View data |
| 5 | 5 Poland | 2,160 | 2023 | +5.21% | +3.57% | View data |
| 6 | 6 Italy | 2,130 | 2023 | +2.48% | +1.68% | View data |
| 7 | 7 Germany | 1,900 | 2023 | +1.71% | +8.86% | View data |
| 8 | 8 Spain | 1,500 | 2023 | +0.32% | -5.27% | View data |
| 9 | 9 South Korea | 1,500 | 2023 | +10.83% | +6.14% | View data |
| 10 | 10 Czech Republic | 1,040 | 2023 | +3.99% | +2.45% | View data |
