In 2023, Belgium ranked highest in the world for indirect government support through R&D tax incentives relative to GDP, reflecting a strong investment to foster innovation. The United Kingdom and France also demonstrated notable support. Portugal showed a significant year-on-year increase, while Switzerland and Norway experienced slight declines. Noteworthy growth was observed in Greece with the 2023 variation being the highest.
Future trends to monitor include increasing R&D tax incentive commitments from smaller, emerging economies striving to spur tech-based growth, and potential policy adjustments in major economies to balance innovation with fiscal discipline. Watch for shifts in geopolitical and economic factors potentially reshaping these incentives.
Top countries in Indirect Government Support Through R&D Tax Incentives by Country
| # | 10 Countries | Percent of GDP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Belgium | 0.4 | 2023 | +16.33% | +14.43% | View data |
| 2 | 2 United Kingdom | 0.33 | 2023 | +1.8% | +2.66% | View data |
| 3 | 3 France | 0.32 | 2023 | +2.6% | +1.92% | View data |
| 4 | 4 Portugal | 0.27 | 2023 | +4.07% | +9.63% | View data |
| 5 | 5 South Korea | 0.15 | 2023 | +0.76% | +1.95% | View data |
| 6 | 6 Australia | 0.13 | 2023 | +1.13% | +1.08% | View data |
| 7 | 7 Russia | 0.11 | 2023 | +1.42% | +4.3% | View data |
| 8 | 8 Norway | 0.11 | 2023 | +0.094% | -1.71% | View data |
| 9 | 9 Japan | 0.096 | 2023 | +0.63% | -3.04% | View data |
| 10 | 10 Croatia | 0.086 | 2023 | +0.7% | View data |
