In 2012 global budgets for research and development climbed by 5.8 percent to USD 638 billion, a clear continuation of the growth trend in recent years following the economic crisis of 2009.
This is the conclusion of the “Global Innovation 1000” study of the strategic consulting company Booz & Company. For the ninth straight year, the company analyzed the budgets of the 1,000 companies with the highest R&D expenditures in the world.
Due to the crisis, European investments in research and development only rose by 4.5 percent. In contrast, the expenditures of the Austrian firms which were analyzed were higher, up by an average of 6 percent.
Three Austrian companies are among the Innovation Top 1000, namely Voestalpine, Andritz and Zumtobel, featuring an R&D budget totaling USD 0.35 billion.
This Report is compliments of Invest in Austria, an EACCNY member.