Investment in research and development (R&D) is the lifeblood of many private sector organizations, helping bring new products and services to market. It's also important to national economies and plays a crucial role in GDP growth.

As we recover from the pandemic, R&D will play a key role in underpinning private sector growth and job creation, Christine Lagarde, President of the European Central Bank, said at the opening of the World Economic Forum's Pioneers of Change summit.

The World Bank analyzed the most recent available data on which countries spend the largest proportion of GDP on R&D activities. While the data predates the pandemic, it helps shine a light on how funding research can bolster economic competitiveness. The top five are: Israel, South Korea, Switzerland, Sweden and Japan.

Continued here
<