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Austria boasts the third highest research ratio of all EU member states

10. May 2016

on 04.05.2016 The Austrian Business Agency Published on their website that Austria’s research ratio i.e. the relation of expenditures for research and development as a percentage of the country’s GDP, will rise to EUR 10.74 billion in 2016, corresponding to an increase of 2.9%.Accordingly, the research ratio is once again above 3%, significantly higher than the EU average of 2%. The corporate sector, which accounts for about 48% of R&D investments, increased its R&D spending by 4.6% to approximately EUR 5.2 billion.

Austria now has the third highest research ratio of all EU countries. We recently surpassed Germany, and now we are also ahead of Denmark”, said Reinhold Mitterlehner, Federal Minister of Science, Research and Economy.

By raising the deduction (research premium) to 12%, the country is more strongly providing support to innovations, making Austria even more attractive for the research departments of international companies. In this connection, Mittlerlehner pointed to the distribution of EUR 33.7 million in research funding in June 2016 from the new Austria Fund.