Spain is positioned as the second largest economy in the world with the highest expected investment in innovation by 2027, only behind the United States. This is derived from a study by Ayming based on responses from executives, which identifies artificial intelligence (AI) as the main lever to achieve competitive advantage through innovation in the country.
In detail, with eight out of ten companies (83%), Spain records the second highest proportion of companies planning to increase their innovation budget in the coming year. These are data from the "VIII International Barometer of Innovation" by Ayming, presented this Wednesday and prepared from a survey of about 900 R&D+i managers and CEOs from 17 countries in Europe, North America, and Asia.
This percentage, identical to that of the previous year, is only below that of the United States (88%) and is three points above the global average. In addition, it surpasses several European countries, including Belgium (80%), Germany (72%), Italy (69%), and France (68%).
In that same line, 22% of Spanish companies allocate 10% of their revenues to innovation activities, above the global average (20%) and economies such as Italy, Finland, or Germany. For its part, 35% channels between 4% and 6% of its turnover to this area.
However, the group specialized in innovation financing and corporate taxation detects a "dispersion" in the investment effort. 11% of Spanish companies allocate 3% or less of their revenues to innovation, compared to the 7% global average. "Spain thus combines a high presence of companies with a strong commitment to innovation with a group of companies whose investment levels remain low," it interprets.
In a statement, the firm emphasizes that Spain ranks among the countries where companies show the least confidence that the national strategy will support their innovative efforts in the new geopolitical context: 16% claim to have little or no confidence, compared to the 13% global average. At the same time, the country stands out for the highest share of R&D conducted within its own borders, at 85%, well above the 61% of the previous year and ahead of China and the Netherlands (84%) or the United States (82%), among others.
Regarding the relocation of R&D, the main destinations chosen by Spanish companies are the United States (23%), Germany (16%), and France (12%).
As for funding sources, self-financing continues to be the predominant option among Spanish companies, at 46%, the same level as the previous year. Following this is funding via capital, used by 42%. In contrast, public aid for innovation is losing weight (from 46% to 37%) and tax deductions for R&D activities are the ones that have decreased the most (from 49% to 36%).
This investment willingness contrasts with the fact that only 28% of Spanish companies have a document that outlines their innovation strategy for the coming years, with notable differences depending on the size of the company. This represents 14 points less than in the previous year, hinders their position compared to the global average (38%), and distances them from the leading countries in this indicator, such as China (59%) or Ireland (56%).
Regarding priorities in innovation, 37% of Spanish companies place the optimization of operations in first place. Next are the implementation of AI (31%) and the incorporation of new technological tools (29%).
In addition, almost half (44%) of Spanish companies point to the focus on the short term and the pressure to achieve immediate results as the main internal barrier to innovate.
AI, geopolitical uncertainty, and risks of not innovating
On the other hand, one in five (19%) Spanish companies admits to having significantly increased their commitment to innovation as a result of the geopolitical situation and political uncertainty, one point above the global average.
Among the main geopolitical pressures, one-third of companies mention energy security and the volatility of energy prices, along with the growing regulatory divergence between markets (both cited by 32%), as well as the dependence on critical foreign suppliers (31%).
In this context, 37% believe that the greatest risk of not continuing to innovate in the current global environment is falling behind in key technologies. Following this are the loss of growth and profitability (30%) and the danger of ceding their competitive position in the market (26%).
In relation to AI, 41% of Spanish companies identify the use of this technology to improve operational efficiency as the avenue with the most potential, ahead of the development of new products and services capable of responding to the changing needs of the market (30%).