In 2023, Germany led Europe in Value Added of Residential Care and Social Work Activities with 81.8 billion euros, displaying a steady year-on-year increase of 3.3%. France followed with 75.98 billion euros at a lower growth rate of 1.94%. The Netherlands, while significantly smaller, matched France’s growth rate. Countries like Spain, Italy, and Belgium showed moderate growth, ranging from 2.14% to 2.54%. Smaller markets such as Slovakia and Ireland experienced notably higher growth rates, suggesting emerging opportunities. Conversely, Greece declined by -2.2%, indicating potential challenges in the sector.
Looking ahead, the sector's expansion is likely driven by aging populations and increasing demand for elderly care. Enhanced digital integration and policy changes across Europe could further shift dynamics, encouraging investment and innovation in residential care and social work activities.
Top countries in Value Added of Residential Care and Social Work Activities by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 81,800 | 2023 | +2.8% | +3.3% | View data |
| 2 | 2 France | 75,980 | 2023 | +1.78% | +1.94% | View data |
| 3 | 3 Netherlands | 32,120 | 2023 | +1.95% | +1.94% | View data |
| 4 | 4 Spain | 17,890 | 2023 | +2.16% | +2.14% | View data |
| 5 | 5 Italy | 16,220 | 2023 | +2.03% | +2.23% | View data |
| 6 | 6 Belgium | 11,650 | 2023 | +2.33% | +2.54% | View data |
| 7 | 7 Finland | 9,900 | 2023 | +2.08% | +2.27% | View data |
| 8 | 8 Austria | 6,820 | 2023 | +2.67% | +2.88% | View data |
| 9 | 9 Ireland | 5,250 | 2023 | +2.9% | +3.87% | View data |
| 10 | 10 Luxembourg | 1,800 | 2023 | +3.24% | +2.99% | View data |
