Europe and China in­vest the most in in­no­va­tions

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Com­pared to other ter­ri­to­ries in the world, Europe’s and China’s ex­penses on re­search and de­vel­op­ment have in­creased the most, with in­vest­ments reach­ing USD 782 bil­lion. The largest amount of money is spent on con­sumer in­dus­try, ac­cord­ing to In­no­va­tion 1000 study per­formed by Price­wa­ter­house­Coop­ers and Strat­egy&.

In­vest­ments in re­search and de­vel­op­ment have in­creased in all re­gions of the world (+34% in China, +14% in Europe, +7.8% in North Amer­ica and +9.3% in Ja­pan). In to­tal, the cost/turnover pro­por­tion has reached the high­est level in re­cent years (4.5%).vol­ume reach­ing USD 782 bil­lion. PwC Latvia Coun­sel­ing Di­rec­tor and Dig­i­tal In­for­ma­tion leader Baiba Apine ex­plains in­vest­ment habits in Latvia: «Latvia can­not com­pete with lead­ing economies at the mo­ment. Nev­er­the­less, ac­tiv­ity does con­tinue grow­ing bit by bit in our coun­try. Ac­cord­ing to data from the Cen­tral Sta­tis­ti­cal Bureau of Latvia, there had been an in­crease in the num­ber of sci­en­tists and re­searchers work­ing in dif­fer­ent com­pa­nies in 2017, es­pe­cially when com­pared to 2016 and the three pre­vi­ous years, when re­search ac­tiv­ity in com­pa­nies was in de­cline. I would like to hope this growth ten­dency will con­tinue in the fu­ture.»

She con­tin­ues: «Eco­nomic growth will def­i­nitely ben­e­fit this growth, as will Lat­vian com­pa­nies’ de­sire and abil­ity to com­pete on global mar­kets and grow­ing pop­u­lar­ity of in­no­va­tive so­lu­tions. I also welcome LIAA ef­forts to com­mer­cial­ize ideas of Lat­vian sci­en­tists. Ef­fec­tive use of re­search and in­no­va­tions in Latvia is in­flu­enced by the break ex­pe­ri­enced dur­ing the cri­sis – com­pa­nies lost the abil­ity and cul­ture to use in­no­va­tions, as well as re­searchers in gen­eral. Now we have to use the in­no­va­tions avail­able to us to the max­i­mum ex­tent.»


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