Cyprus has more than doubled its government spending on Research and Development (R&D) over the past decade, although it remains below the EU average, according to the latest data released by Eurostat.
Specifically, public R&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 notable rise in absolute figures, Cyprus continues to lag behind in terms of R&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&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.
EU-Wide 3.4% increase in R&D spending
Government budget allocations for R&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&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&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&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%).
(Source: CNA)
