In 2023, Italy led Europe in labor costs for high R&D intensive activities, with a value of 38.92 million euros, showing a year-on-year increase of 1.4%. The Netherlands and Spain followed, each recording smaller values of 14.31 and 12.56 million euros, and growth rates of 1.8% and 0.53%, respectively. Smaller countries like Slovenia and Estonia experienced significant growth rates of 1.87% and 2.87%, albeit from a lower base. Across Europe, the only decline was observed in Finland, at -1.04%.
Future trends to watch include the impact of technological advancements and policy changes on labor costs, particularly in high R&D intensive sectors. Given the broad spectrum of growth rates across countries, focus on innovation capacity and talent development is crucial to maintaining competitive labor costs in the region. Investment in digital infrastructure and AI integration might significantly influence future trends.
Top countries in Labour Costs in High (2-Digit Definition) R&D Intensive Activities Share by Country (Million Euros)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Italy | 38.92 | 2023 | +1.13% | +1.4% | View data |
| 2 | 2 Netherlands | 14.31 | 2023 | +1.72% | +1.8% | View data |
| 3 | 3 Spain | 12.56 | 2023 | +0.52% | +0.53% | View data |
| 4 | 4 Belgium | 12.21 | 2023 | +2.24% | +2.8% | View data |
| 5 | 5 Austria | 9.75 | 2023 | +2.22% | +2.2% | View data |
| 6 | 6 Finland | 5.79 | 2023 | -1.03% | -1.04% | View data |
| 7 | 7 Slovenia | 2.1 | 2023 | +2.25% | +1.87% | View data |
| 8 | 8 Greece | 2.04 | 2023 | +1.53% | +2.68% | View data |
| 9 | 9 Slovakia | 1.18 | 2023 | +2.4% | +2.72% | View data |
| 10 | 10 Estonia | 0.65 | 2023 | +2.95% | +2.87% | View data |
