Based on the data, employment in business services in Austria experienced consistent growth from 2013 to 2023. In 2023, it stood at 1.56 million units (full-time equivalent). Over the past two years, the sector showed a year-on-year growth of approximately 0.91% in both 2022 and 2023. The compound annual growth rate (CAGR) over the last five years was 0.82%, indicating steady, albeit modest, growth.
Looking ahead, forecasted data suggests continued growth in employment within business services, with a CAGR of 0.66% over the next five years, resulting in a projected growth rate of 3.34% by 2028. This suggests the industry will continue to expand, although at a slightly more moderate pace compared to previous years.
Future trends to watch for include:
- Shifts in global and local economic conditions which could impact demand for business services.
- Technological advancements and digital transformation driving changes in the skill sets required within the sector.
- Potential policy changes or economic incentives aimed at boosting employment and innovation in business services.
- The impact of remote work trends and how they reshape employment patterns within the industry.
