Spain invests 1.5% of its GDP in R&D and aims to reach 3% by 2030

The Diplomat Spain currently invests 1.5 percent of its Gross Domestic Product (GDP) in Research and Development (R&D), with a growth rate higher than that of major economies, and aims to reach three percent by 2030, which would place it very close to the group of ten countries that invest the most in innovation. These are some of the conclusions of the report “Innovation Spain 2026,” prepared by the Centre for the Development of Technology and Innovation (CDTI), ICEX-Invest in Spain, and the I+E Foundation (an entity formed by multinational companies with a long history in Spain) and presented this Wednesday in Madrid. According to ICEX, the document analyzes the Spanish innovation ecosystem and aims to be a strategic guide for investment in R&D and the attraction of international companies and major projects. Furthermore, it provides in-depth knowledge of the country's scientific and technological infrastructure, available talent, funding opportunities, and the sectors where Spain excels or is emerging as a leader. Primarily aimed at companies, entrepreneurs, and key international decision-makers, the "Innovation in Spain" report is structured around three main pillars: the country's attractiveness for investment in terms of economic potential, infrastructure, human capital, and emerging sectors; the conditions, facilities, and incentives it offers for innovation and the implementation and development of projects; and the country's strategic position as a bridge connecting Europe, Latin America, and North Africa. According to the report, Spain is the twelfth largest economy in the world and the fourth largest in the European Union. "Highlighted by international media and analysts for its strong growth prospects, it has attracted over €30 billion in foreign investment for four consecutive years," its authors state. In addition, the document highlights that the country boasts “an enviable infrastructure framework for business,” both in terms of communications and transportation, as well as connectivity and technological infrastructure. From a human capital perspective, it also possesses “a scientific and research base of recognized international prestige, a far-reaching university system, and a growing critical mass of professionals with digital and STEM (Science, Technology, Engineering, and Mathematics) skills.” “Spain is currently a leader or emerging hub in some of the sectors that will drive the global economy, such as renewable energy and green hydrogen, biotechnology and the pharmaceutical industry, the aerospace industry, and cybersecurity,” the report continues. Furthermore, the report states that Spain “currently invests 1.5 percent of its GDP in R&D” and that, “over the last five years, this investment has been growing at a faster rate than in the major economies.” “The stated objective is to reach three percent of GDP by 2030, which would place it very close to the ‘top 10’ countries that invest the most in innovation,” the text continues. Furthermore, it adds, the country has “one of the most favorable tax incentive frameworks for R&D on the continent, giving it an advantage over other European destinations for technological investment.” “Due to its geographical location and its international relations and links, Spain stands out as a strategic enclave for business: as a gateway to the European Union, as a natural bridge to Latin America, and as a route to access North African countries,” the study adds. “At ICEX, we are working to reposition Brand Spain by linking our companies, our talent, and our technology with the highest standards of excellence, and, in this context, we have placed innovation at the center as a true lever of competitiveness that opens doors and generates new opportunities in international markets,” stated Elisa Carbonell, CEO of ICEX, during the report's presentation. “Spain is a country with excellent conditions for innovation and research, for hosting transformative industries, and for successfully leading the energy and ecological transition,” but “we are also convinced that we can still strengthen our potential,” stated Sergio Rodríguez, president of the I+E Foundation. For his part, the State Secretary for Science, Innovation and Universities, Juan Cruz Cigudosa, affirmed that “Spain has established itself as a benchmark for scientific talent and capabilities, as an attractive country for innovation.”

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