Research spending in Cyprus still low — business sector leads the way

Research spending in Cyprus as a percentage of domestic GDP remains low compared to the European average, despite an increase in absolute terms.

According to a report released on Wednesday by the Cyprus Statistical Service (Cystat), total research expenditure for 2022 was estimated to have reached €207 million, representing 0.75 per cent of GDP.

This represents a slight increase from the €199.5 million recorded the prior year, corresponding to 0.8 per cent of Cyprus’ GDP.