Which countries spend the most on research and development?

'Research and Development' highlighted in green

Research and development is the bedrock of innovation. A big investment in R&D indicates a thriving and entrepreneurial industrial spirit, and figures from the Organisation for Economic Cooperation and Development (OECD) highlight the countries spending the most – and least – on this important driver of economic growth, which covers three activities: basic research, applied research and experimental development.

chart_2_

Israel and Korea are the biggest spenders on R&D at 4.21% and 4.15% of GDP respectively. Japan, Finland and Sweden complete the top 5.

Germany and the United States have similar levels of R&D investment at just under 3%, and while China has built its economy making products designed and developed overseas, its research spend is rapidly catching up at 2% of GDP.

Of the OECD member nations, Chile spends the least on R&D at 0.36%, with Romania and Mexico only slightly ahead.

If you’d like to learn more, read What is government’s role in sparking innovation?and 10 ways countries can improve their competitiveness.

Source agenda.weforum.org

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s