Australia is the sixth biggest importer of R&D

A new Booz & Company Global Innovation study shows that Australia was the sixth-largest importer of global spending on research and development in 2007.

A new Booz & Company Global Innovation study shows that Australia was the sixth-largest importer of global spending on research and development in 2007.

The study, the company’s fourth annual analysis of global research and development spending, finds Australia attracted $4.3 billion in global R&D investment.

Total global spending on R&D was $US429 billion.

Booz & Company’s strategy practice principal Bernadette Howlett says the country is “clearly benefitting from the globalised outsourcing of R&D spending”.

“The long-term outlook is encouraging because of the capability of our local skill base, and the increased reputation our R&D teams have for innovation and for being able to respond to consumer demand, which is where multi-national companies most derive value from their R&D spend. We also enjoy a close proximity to Asia and strong working knowledge of emerging markets such as India and China.”