In 2023, the highest budget allocations for R&D as a percentage of GDP were observed in Norway (1.33%), Greece (1.06%), and France (1.03%), showing strong commitments towards innovation. Notably, Cyprus experienced significant growth with a 13.63% increase from the previous year. Estonia and Colombia faced declines, with Colombia showing a decrease of 2.46%. Over the past five years, countries have shown varied commitment levels, with Norway, Greece, and Belgium maintaining strong year-on-year growth.
Future trends to consider include digital transformation advancements, global collaborations, and increasing government support for sustainable and green technology initiatives. Monitoring the impact of these on R&D budgets and tax incentives will provide insights into innovation landscapes globally.
Top countries in Government Budgets for R&D and Tax Incentive Support for Business R&D by Country
| # | 10 Countries | Percent of GDP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Norway | 1.33 | 2023 | +2.16% | +3.95% | View data |
| 2 | 2 Greece | 1.06 | 2023 | +5.61% | +11.02% | View data |
| 3 | 3 France | 1.03 | 2023 | +0.25% | +1.82% | View data |
| 4 | 4 Belgium | 1.02 | 2023 | +1.9% | +3.95% | View data |
| 5 | 5 Denmark | 1.02 | 2023 | +0.21% | +2.16% | View data |
| 6 | 6 Germany | 1.01 | 2023 | +1.05% | +1.42% | View data |
| 7 | 7 Netherlands | 0.91 | 2023 | +0.45% | +1.42% | View data |
| 8 | 8 United States | 0.82 | 2023 | +0.26% | +0.1% | View data |
| 9 | 9 Sweden | 0.79 | 2023 | +0.05% | +0.8% | View data |
| 10 | 10 Czech Republic | 0.73 | 2023 | +1.35% | +1.87% | View data |
