The number of self-employed people in Belgium's advertising and market research sector has shown significant growth since 2013. While from 2013 to 2016, the value remained at 3.5 thousand units, a more dynamic increase started in 2017. By 2023, the number had risen to 4.6 thousand units, representing a 4.55% year-on-year increase for that year.
Over the last two years leading up to 2023, we observed an average year-on-year increase of around 3.44%. From 2020 to 2023, the sector has grown at a notable Compound Annual Growth Rate (CAGR) of 4.45%. Looking forward, a projected CAGR of 2.76% over the next five years indicates a growth trend, with the forecasted self-employed figure reaching 5.5 thousand units by 2028. This signifies an overall growth of 14.58% over the next five years.
Future trends to watch for include the potential impact of technological advancements such as AI-driven market research tools, the increasing popularity of remote working, and the broader gig economy. These factors could further drive the growth of self-employment within the sector.
Key Points:
- From 2013 to 2016, stability at 3.5K units.
- Significant growth starts in 2017, reaching 4.6K units by 2023.
- 2023 YoY growth: 4.55%; 2020-2023 CAGR: 4.45%.
- Future projection: 2.76% CAGR, expected to reach 5.5K units by 2028.
