Italia: Covid Effect on Business Spending Expected -5% in 2020
The coronavirus emergency has had an impact on the expected spending by companies in Research & Development: a drop of almost 5% is expected in 2020. This is attested by Istat in the report ‘Research and Development in Italy – Years 2018-2020’.
In 2018 R&D spending of over 25 billion
The report shows that in 2018 the total expenditure on intra-muros R&D (companies, public institutions, private non-profit institutions and universities) amounted to 25.2 billion euros, with a percentage of GDP equal to 1.43 per one hundred. Compared to the previous year, spending increased by 6% and recorded a moderate increase also in terms of incidence on GDP (+0.06 percentage points).
In 2019, spending grows in the non-profit and public sector
Preliminary data for 2019 indicate a further increase in overall R&D spending by businesses, the public sector and non-profit organizations. In particular, expenditure grew by 7.6% for non-profit, 4.3% for public institutions and 1.9% for businesses.
Sharp decline in 2020 for businesses
Forecasts provided by businesses and institutions for 2020 indicate a sharp decline in intra-muros R&D spending. The decrease mainly concerns companies (-4.7% compared to 2019, – 2.9% compared to 2018), while spending by public institutions grew by 3% and that of private non-profits remained stable.