Research and development (R&D) efforts worldwide will grow to encompass more than $1.4 trillion in spending in 2012, conclude economic forecasters.
In the"2012 Global R&D Funding Forecast" report released by Battelle and R&D Magazine, a look ahead suggests that Asian economies will increase R&D spending on innovation by 9%, Europe by 3.5% and U.S. spending will increase by 2.1% next year. Overall, spending will increase at a 5.2% rate from last year, a healthy rate of increase.
"China's profile as the second-largest sponsor of global R&D continues to increase, whether measured in terms of funding or generation of intellectual capital," says Battelle CEO Jeffrey Wadsworth, in the report's introduction. "Even so, with over $400 billion in annual R&D funding from both public and private sectors, the United States continues its historic and world-leading commitment to innovation as an essential catalyst for prosperity and growth."
To read the full, original article click on this link: Global research to grow in 2012 amid innovation debate
