Research and Development: Austria in the fast lane 27. February 2009

The latest EU figures prove it: Austria is among the most innovation-friendly countries in the EU. The Alpine Republic can also hold its own on the international stage – research performance ratings place it among the world’s top ten.

Austria has invested heavily in research and innovation in recent years. According to Statistik Austria , gross spending on research and experimental development in Austria in 2008 will reach 2.63% of GDP (gross domestic product). This represents an increase of 8.1% against 2007 (2.54%). This places Austria far above the EU average yet again, continuing the trend established over the past years. Only Sweden with 3.73% and Finland with 3.37% give more of their GDP for R&D.

These investments in research and innovation also represent an important driver for economic recovery in Austria in the current economic downturn. This also matches the findings of the EU Innovation Barometer 2008 : Austria is the top of the group of innovation followers from within the EU.

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