In 2023, Germany led European labour costs in business services with 795.26 billion euros, followed by France at 638.15 billion euros. Italy and Spain showed moderate labour costs, while the Netherlands, Belgium, and Austria reported considerably lower figures. Smaller economies like Ireland, Finland, and others in Eastern Europe had significantly reduced costs, with all values under 60 billion euros. The year-on-year growth between 2022 and 2023 varied, with Ireland experiencing the highest increase at 3.89%, while countries like Greece saw minimal growth at 1.41%. The 5-year compound annual growth rate (CAGR) indicates an overall trend of moderate growth across these countries.
Future trends to watch in European labour costs in business services include potential increases driven by technological advancements and regulatory changes. Additionally, the economic recovery post-COVID-19 and shifts towards remote work might influence labour dynamics and costs differently across individual countries. Businesses must remain agile in adjusting to evolving wage demands and productivity improvements.
Top countries in Labour Costs in Business Services by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 795,260 | 2023 | +2.24% | +2.58% | View data |
| 2 | 2 France | 638,150 | 2023 | +1.73% | +1.68% | View data |
| 3 | 3 Italy | 306,340 | 2023 | +1.77% | +1.99% | View data |
| 4 | 4 Spain | 258,340 | 2023 | +1.65% | +1.57% | View data |
| 5 | 5 Netherlands | 197,930 | 2023 | +1.72% | +1.61% | View data |
| 6 | 6 Belgium | 105,670 | 2023 | +1.86% | +2.23% | View data |
| 7 | 7 Austria | 88,570 | 2023 | +2.1% | +2.06% | View data |
| 8 | 8 Ireland | 56,330 | 2023 | +2.96% | +3.89% | View data |
| 9 | 9 Finland | 47,080 | 2023 | +1.83% | +1.8% | View data |
| 10 | 10 Portugal | 43,010 | 2023 | +1.88% | +1.66% | View data |
