Between 2023 and 2024, Denmark leads in local government expenditure on social protection at 56.56%, with Ireland seeing a notable increase, suggesting robust public welfare investments. The UK and Germany exhibit modest growth, while Greece faces a significant decline at -28.32%. Although Sweden and Belgium experience slight decreases at -0.41% and -0.49% respectively, many countries like Poland and South Korea show positive adjustments. Over a five-year period, there is a discernible trend towards maintaining or marginally increasing social protection spending, reflecting a sustained commitment to social welfare despite varying economic climates globally.
Future trends to watch include:
- An increased emphasis on managing social welfare spending efficiently due to aging populations in Europe and Asia.
- Potential fluctuations caused by economic recovery efforts post-global disruptions, such as pandemics or geopolitical tensions.
- The likely evolution of social protection programs to address emerging social issues, such as digital transformation and climate change.
Top countries in Local Government Expenditures on Social Protection by Country
| # | 10 Countries | Percent of Local Government Expenditure | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Denmark | 56.56 | 2023 | +0.12% | +0.16% | View data |
| 2 | 2 Ireland | 46.28 | 2023 | +2.84% | +4.16% | View data |
| 3 | 3 United Kingdom | 35.66 | 2023 | +0.73% | +0.19% | View data |
| 4 | 4 Germany | 34.74 | 2023 | +0.32% | +0.12% | View data |
| 5 | 5 Norway | 29.26 | 2023 | +0.27% | +0.021% | View data |
| 6 | 6 Japan | 26.67 | 2023 | +0.53% | +0.81% | View data |
| 7 | 7 Finland | 25.61 | 2023 | +0.23% | +0.41% | View data |
| 8 | 8 Sweden | 25.59 | 2023 | -0.23% | -0.41% | View data |
| 9 | 9 Iceland | 24.18 | 2023 | +0.88% | +1.54% | View data |
| 10 | 10 Poland | 23.41 | 2023 | +2.5% | +3.78% | View data |
