European business expenditure on R&D in ICT varies significantly by country. In 2023, Sweden led with 0.76% of GDP, followed by Finland at 0.5%, and Belgium at 0.49%. The Czech Republic and Poland also showed notable investments with 0.42% and 0.35%, respectively. Italy and Spain lagged behind, each investing less than 0.2%. Serbia exhibited remarkable growth with a 57.42% year-on-year increase in 2023.
Future trends to watch include potential increased investment in Eastern Europe and sustained growth in the Nordics, driven by digital transformation and innovation in AI, cloud, and biotechnology sectors.
Top countries in Business Expenditure on R&D in ICT by Country
| # | 10 Countries | Percent of GDP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Sweden | 0.76 | 2023 | +4.27% | +15.24% | View data |
| 2 | 2 Finland | 0.5 | 2023 | +3.93% | +8.86% | View data |
| 3 | 3 Belgium | 0.49 | 2023 | +8.71% | +12.27% | View data |
| 4 | 4 Czech Republic | 0.42 | 2023 | +10.29% | +10.92% | View data |
| 5 | 5 Poland | 0.35 | 2023 | +9.78% | +12.17% | View data |
| 6 | 6 Portugal | 0.29 | 2023 | +4.26% | +8.56% | View data |
| 7 | 7 Croatia | 0.23 | 2023 | +6.48% | View data | |
| 8 | 8 Malta | 0.2 | 2023 | +1% | 0% | View data |
| 9 | 9 Hungary | 0.15 | 2021 | View data | ||
| 10 | 10 Switzerland | 0.14 | 2023 | +3.76% | +4.08% | View data |
