Global R&D investments are predicted to grow 3.4% this year to $2.1 trillion in purchasing power parity, according to R&D magazine’s “2017 Global R&D Funding Forecast.” The US continues its 50-year position of being the world leader in R&D investment. Although its share of global R&D investment has declined due to growing R&D investment in Asian countries, the US still accounts for 26% of global R&D spending, the largest percentage for a single country. The magazine’s “Asia” category, which includes 24 countries, but excludes Japan, India, China and South Korea, accounts for a 43% share of global R&D investment, and is followed by Europe and China, which are tied at 21%. The US is forecast to spend $527.5 billion in R&D, a 1% increase accounting for inflation.

As a percentage of GDP, South Korea is forecast to lead in gross R&D expenditures with over 4%, and is marginally ahead of Israel’s GDP, which is also over 4%. Finland follows with R&D expenditure accounting for close to 4% of GDP, with Japan and Sweden next in line at 3%. China’s R&D expenditure as a percentage as GDP is forecast to be just under 2%, while the US is forecast to record almost 3% of R&D expenditure as GDP. Academia accounts for the majority of R&D expenditure, with University of Oxford ranked highest for research, followed by Harvard University. In regards to expenditure, John Hopkins University leads the 2016–2017 academic year, with a $859.6 million investment into R&D.

Source: R&D