Nicosia: Cyprus has more than doubled its government spending on Research and Development (R and D) over the past decade, although it remains below the EU average, according to the latest data released by Eurostat.
According to Cyprus News Agency, public R and D expenditure in Cyprus increased from £61.9 million in 2014 to £145 million in 2024-a rise of 134%, one of the highest increases in the European Union. Among the 27 member states, only six recorded increases above 100%.
Despite the rise in absolute figures, Cyprus continues to lag behind in terms of R and D spending as a percentage of GDP. In 2024, public allocations for research stood at 0.43% of GDP, below the EU average of 0.71%. In 2014, Cyprus had recorded 0.35% of GDP in R and D spending.
In 2024, Cyprus spent an average of £150.1 per person on public research-still below the EU average of £284.7, but ahead of countries like Bulgaria, Romania, and Hungary.
Government budget allocations for R and D in the EU rose by 3.4% in 2024, reaching a total of £127.9 billion, equivalent to 0.71% of the EU’s GDP. Compared with 2014, this marks an overall increase of 59.5%.
Per capita government R and D spending across the EU reached £284.7 in 2024, up from £181.3 in 2014. The highest per capita figures were recorded in Luxembourg (£759.2), Denmark (£586.8), and the Netherlands (£542.7). The lowest were seen in Romania (£19.1), Bulgaria (£38.3), and Hungary (£58.7).
Between 2014 and 2024, all EU member states increased their R and D spending per capita. The largest percentage increases were recorded in Latvia (+313%), Slovenia (+252%), and Lithuania (+197%).
More than one-third (35.7%) of total R and D allocations were directed to the general advancement of knowledge through public university funding. Other major funding areas included non-university research (16.6%), industrial production and technology (9.4%), health (7.0%), and space exploration (6.1%).