In 2023, the European financial services and insurance sector showed varied growth across countries. The UK, Germany, and France held the top three positions in output share. Notable growth was seen in Luxembourg, Ireland, and Poland. Overall, growth trends depict a strengthening sector, with Eastern European countries like Bulgaria, Cyprus, and Estonia exhibiting significant advancements. Lithuania recorded the highest year-on-year growth at 22.45%, while Greece experienced a decline.
Future trends suggest increased growth in countries with advancing digital infrastructures and fintech innovations. Eastern Europe is anticipated to continue its upward trajectory, driven by regulatory advancements and investments in financial technology.
Top countries in Financial Services and Insurance Output Share by Country (Million Euros)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United Kingdom | 17.81 | 2023 | +0.91% | +1.2% | View data |
| 2 | 2 Germany | 16.91 | 2023 | +2.13% | +3.81% | View data |
| 3 | 3 France | 13.53 | 2023 | +1.46% | +2.37% | View data |
| 4 | 4 Italy | 7.25 | 2023 | +0.11% | +0.058% | View data |
| 5 | 5 Luxembourg | 6.86 | 2023 | +4.22% | +6.28% | View data |
| 6 | 6 Switzerland | 6.06 | 2023 | +0.27% | +3.47% | View data |
| 7 | 7 Spain | 4.84 | 2023 | +2.23% | +3.84% | View data |
| 8 | 8 Netherlands | 4.61 | 2023 | +1.58% | +1.29% | View data |
| 9 | 9 Belgium | 3.45 | 2023 | +3.29% | +4.14% | View data |
| 10 | 10 Ireland | 2.65 | 2023 | +3.33% | +4.97% | View data |
