Over Half of EU Businesses Engage in Innovation, with Greece Among the Leaders

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Over half of businesses in the European Union engaged in innovation activities between 2020 and 2022, according to the latest findings from the Community Innovation Survey (CIS).

The survey, which tracks product and process innovation across EU enterprises, reveals that 51% of companies in the EU reported some form of innovation during this period.

Among the EU member states, Greece stood out with 66% of its businesses reporting innovation activity, ranking second overall behind Belgium (70%). This places Greece ahead of major economies like Germany, where 63% of enterprises reported similar activities. In contrast, countries like Romania, Bulgaria, and Hungary had the lowest innovation engagement, with only 9%, 26%, and 30% of businesses, respectively, reporting any innovation activity.

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The data also highlighted a clear trend across business sizes. Large enterprises with 250 or more employees were most likely to engage in innovation, with 78% reporting innovation activities. In comparison, medium-sized companies (50 to 249 employees) had a 64% innovation rate, while small businesses with 10 to 49 employees had the lowest at 47%.

This data underscores the significant role innovation plays in driving business growth and competitiveness, with larger companies consistently leading the charge in adopting new products and processes.

Read more: Eurostat reports

(Source: Eurostat)