The European watch and clock industry presents a diverse landscape of wages and salaries. Germany and France lead with the highest figures in 2023, with Germany at 164.5 million euros and France at 128.6 million euros. Italy follows with a moderate loss of -0.38% compared to the previous year. The United Kingdom saw a notable decrease of -6.22% in 2023. Emerging markets such as the Czech Republic and Lithuania show promising upward trends with 7.46% and 9.86% increases respectively. Conversely, Croatia experienced a significant decline of -32.24%.
Looking forward, several trends and factors could influence the industry:
- Technological advancements and automation may increasingly impact production costs and labor requirements.
- The growing demand for luxury watches could elevate the labor market and salaries in leading countries.
- Economic fluctuations and trade policies might affect the distribution and focus of the industry.
- Sustainability practices and the shift towards smart and hybrid watches could alter employment dynamics.
Top countries in Watches and Clocks Wages and Salaries by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 164.5 | 2023 | +5.79% | +0.47% | View data |
| 2 | 2 France | 128.6 | 2023 | +21.44% | +15.38% | View data |
| 3 | 3 Italy | 10.4 | 2023 | +0.97% | -0.38% | View data |
| 4 | 4 United Kingdom | 7.4 | 2023 | -6.33% | -6.22% | View data |
| 5 | 5 Portugal | 6.9 | 2023 | +2.99% | +3.53% | View data |
| 6 | 6 Spain | 6.3 | 2023 | 0% | -0.31% | View data |
| 7 | 7 Sweden | 3.3 | 2023 | -2.94% | -3.77% | View data |
| 8 | 8 Czech Republic | 2.4 | 2023 | +9.09% | +7.46% | View data |
| 9 | 9 Belgium | 2 | 2023 | 0% | 0% | View data |
| 10 | 10 Austria | 1.2 | 2023 | 0% | -3.04% | View data |
