Greece Increased Research and Development Spending by 7.6% in 2024

Greece spent €3.62 billion on research and development in 2024, an increase of 7.6% from the previous year. Final figures from the National Documentation and Electronic Content Centre were sent to Eurostat.

Total R&D spending reached €3.621 billion, up €256.25 million from €3.365 billion in 2023. R&D intensity, which measures spending as a share of gross domestic product, rose to 1.53%. Spending growth outpaced GDP growth, which stood at 5.4%. On this measure, Greece ranked 13th among the EU’s 27 member states.

The increase in spending came alongside a decline in R&D employment. Personnel measured in full-time equivalents fell 5.7%, from 73,263 in 2023 to 69,124 in 2024. Research personnel declined 6.9%, to 50,892 from 54,679.

Businesses carried out €1.986 billion in R&D spending, or 54.8% of the total. Higher education accounted for €911.03 million, or 25.2%, while the government sector spent €706.52 million, or 19.5%. Private non-profit institutions accounted for €18.16 million. Within business, major contributors included information and communications, mining and quarrying, finance and insurance, professional and technical activities, wholesale and retail, and pharmaceutical manufacturing. The broader information and communications sector spent €361.43 million.

Higher education employed the largest share of R&D personnel, with 29,860 full-time equivalents, or 43.2% of the total. Businesses recorded 23,012 and the government sector 15,898. Private companies provided the largest share of funding, at €1.683 billion, followed by government financing of €1.164 billion.