Between 2013 and 2023, the trend of ATM cash withdrawals in Belgium showed a marked decline. In 2013, the value was at $70.67 billion, which then decreased significantly to $41.04 billion by 2023. The annual variations included both sharp declines and occasional small increases. Notably, 2020 witnessed an 18.64% drop likely influenced by the pandemic, followed by a notable 24.04% rebound in 2021. Over the last five years, the trend showed an average annual decline of 1.96%.
Beyond 2023, forecasts predict a continued but slower decline in ATM cash withdrawals, with a 5-year CAGR of -1.75%, amounting to an 8.47% reduction in total value by 2028.
Future Trends to Watch For:
- The growing prominence of digital payment methods could further reduce the reliance on cash.
- Regulatory changes and advancements in financial technology could accelerate the transition away from cash transactions.
