Analysis of European Household Expenditure on Recreational and Cultural Services by Country
In 2023, Serbia leads with the highest expenditure on recreational and cultural services at 3.2% of GDP, marking an 8.79% year-on-year increase. Conversely, Luxembourg and Ireland report the lowest at 0.8% of GDP each. Germany witnessed a significant 4.36% decline. Poland, France, Bosnia and Herzegovina, and Belgium each faced notable reductions of over 1.47%. The UK saw a minor improvement of 0.85%, while Iceland experienced a modest increase of 3.58%. This indicates a mixed trend across the continent.
Future Trends
Looking ahead, it's vital to monitor economic recovery post-pandemic, technological advancements in digital entertainment, and shifting consumption patterns towards experiential services. Regions exhibiting consistent growth, like Serbia and Iceland, might continue leading, while others may need targeted strategies to stimulate spending.
Top countries in Household Expenditure on Recreational and Cultural Services by Country
| # | 10 Countries | Percent of GDP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Serbia | 3.2 | 2023 | +10.34% | +8.79% | View data |
| 2 | 2 Iceland | 3.1 | 2023 | 0% | +3.58% | View data |
| 3 | 3 Croatia | 2.7 | 2023 | +3.85% | +4.18% | View data |
| 4 | 4 Cyprus | 2.6 | 2023 | 0% | -2.16% | View data |
| 5 | 5 United Kingdom | 2.4 | 2023 | 0% | +0.85% | View data |
| 6 | 6 Slovakia | 2.2 | 2023 | 0% | +0.93% | View data |
| 7 | 7 Greece | 2.1 | 2023 | -8.7% | -0.93% | View data |
| 8 | 8 Sweden | 2.1 | 2023 | 0% | +2.02% | View data |
| 9 | 9 Latvia | 2 | 2023 | -9.09% | -4.36% | View data |
| 10 | 10 Malta | 1.9 | 2023 | 0% | -2.89% | View data |
