Spanish R&D spending grows again in 2017 after 2016 slowdown, but still in pre-crisis levels

Spanish R&D Spending Grows Again In 2017 After 2016 Slowdown, But Without Reaching Pre-Crisis Levels

According to FEDEA, the total expenditure on R&D grew 6% compared to 2016. Companies increased their expenditure on R&D by 8% and the public sector slightly more than 2%. These growth rates recall those of the years before the crisis but are still not sufficient for Spain to escape the small group of European countries who still have not recovered pre-crisis levels of R&D spending.

Spain's technology deficit could reach €21.078 billion

Spain’s Technology Deficit Could Reach €21.078 Billion

The Spanish economy invested a total of €14.052 billion in research and development (R&D) in 2017, the equivalent of 1.2% of the GDP, according to Spain’s National Statistics Institute. Although this percentage is 6% higher than the previous year, “Spain would take 180 years to reach the 3% target set by the European Commission’s Europe 2020 strategy,” says Xavier Ferràs, Associate Professor in the Department of Operations, Innovation and Data Sciences at ESADE.

Spanish R&D spending grows again in 2017 after 2016 slowdown, but still in pre-crisis levels

Spain’s R&D Ranks In An Unpretentious Second Division

Irrespective of what kind it is, research generates numerous commercial applications which can be profitable for the companies who promote them, while making countries more powerful and turning them into global scientific references. And so what about Spain? There is an increasingly more intense brain drain amongst young Spanish researchers. They are snatched by foreign universities to develop an activity which here in Spain is limited, fundamentally for budget reasons.

Innovation is still missing in Spain

Innovation still in free-fall in Spain

A recent European Commission report on innovation indicators highlights that Spain is the third country, along with Lithuania, which has fallen behind the most in matters of innovation – after Romania and Hungary. Since the start of the crisis in 2008, Spain has lost an average of 0.8% annually in R&D output.

digital tech

Why the EU is not leading the digital-tech race

BRUSSELS | By Alexandre MatoLast year, the EU spent €275 billion on Research & Development, nearly 2% of its GDP. This is undoubtedly a huge amount of money, but not enough to compete with the United States, South Korea or Japan. Furthermore, a brief glance at the main tech and computer companies shows that the European horizon looks somewhat bleak.

No Picture

Why United States’ GDP growth doesn’t mean much for the economy

WASHINGTON | By Pablo Pardo. In  July the American GDP will go up, although the economy won’t even feel it. Nor the so-called sequester or the Fed massive debt purchases have anything to do with it. Oil prices and the dollar are also out of the equation. The key: R&D will be considered as an investment.