The forecast data indicates a steady increase in household expenditure on housing, water, and energy in South Korea over the next five years. The expenditure is projected to grow from 185.46 trillion South Korean Wons in 2024 to 211.13 trillion in 2028. This represents a compound annual growth rate (CAGR) of approximately 3.23%. In 2023, the expenditure was recorded at 179 trillion South Korean Wons, reflecting an upward trend in subsequent years.
Year-on-year variations for the forecasted period are as follows:
- 2024 to 2025: 3.51%
- 2025 to 2026: 3.36%
- 2026 to 2027: 3.22%
- 2027 to 2028: 3.08%
Future trends to watch for include potential shifts in energy pricing policies, population growth, and urbanization rates, which could significantly impact household expenditures. Additionally, developments in renewable energy sources and smart housing technologies may influence spending patterns in the coming years.
