A report shows Brazil invests four times more in science than Mexico. Investing in science shapes a country’s future.
A Universidad Austral of Buenos Aires study shows Brazil is leading in Latin America.
Chile is also ahead, spending three times more than Colombia and twice as much as Argentina.
The study breaks down the numbers. It looks at both public and private funding. Then, it compares this funding to each country’s Gross Domestic Product (GDP).
In Brazil, R&D spending is 1.17% of the GDP. World Bank data suggests a slightly higher number of 1.21%.
Here’s how other Latin American countries fare:
- Argentina: Spends 0.52% of its GDP on R&D
- Uruguay: Allocates 0.45% of its GDP to R&D
- Chile: Dedicates 0.34% of its GDP to R&D
- Mexico: Invests 0.3% of its GDP in R&D
- Colombia: Uses 0.29% of its GDP for R&D
- Peru: Spends 0.17% of its GDP on R&D
- Paraguay: Invests 0.16% of its GDP in R&D
On a global scale, Israel leads with 5.44% of its GDP going to R&D. South Korea follows at 4.81%, and the United States at 3.45%.
European countries like Portugal and Spain also spend more than most Latin American countries.
The study also looks at the number of researchers. Argentina has the most researchers per 1,000 workers. Brazil comes in second, Chile is third, and Mexico ranks the lowest.
However, Argentina spends the least on each researcher. In contrast, Colombia spends the most.
The study’s lead, Luis Domingo Dambra, warns that low salaries might drive researchers away from Argentina.
Losing trained talent is a concern because they take years and resources to develop.