Cyprus: Public Spending on R&D More Than Doubled

Cyprus's public spending on Research and Development (R&D) has more than doubled in the last decade, according to Eurostat data. Specifically, it increased from €61.9 million in 2014 to €145 million in 2024, marking a 134% increase.

Despite the significant increase, R&D expenditure amounted to 0.43% of GDP in 2024, below the European average (0.71%). Cyprus spent an average of €150.1 per capita on public research, lower than the EU average (€284.7).

In the EU, public spending on R&D increased by 3.4% in 2024, reaching €127.9 billion (0.71% of GDP). The largest per capita increases were recorded in Latvia, Slovenia, and Lithuania.