The business services sector in Turkey has exhibited fluctuating employment trends over the past decade. In 2023, the number of employees was recorded at 7.0 million units, reflecting a modest year-on-year growth of 0.56%. From 2014 to 2023, the sector achieved a compounded annual growth rate (CAGR) of 0.29%, indicating relatively stable growth despite short-term volatility.
The period from 2014 to 2017 saw notable growth, with year-on-year increases peaking at 6.73% in 2015. However, the sector faced a downturn in 2018 with a -4.32% decline, followed by a slight recovery. The recent years from 2019 to 2023 have seen minor growth fluctuations, highlighting a stable if slow upward trend.
Forecasts from 2024 to 2028 predict continued steady growth, with a forecast 5-year CAGR of 0.41%, resulting in an estimated growth rate of 2.07% over the period.
Future trends to watch for include the impact of technological advancements and automation on employment needs, policy changes impacting the business environment, and the evolution of demand for various business services in Turkey. Monitoring these factors will be crucial for anticipating shifts in employment trends within the sector.