The Financial Service Activities Gross Value Added (GVA) in Italy has seen a notable decline from 2013 to 2023, moving from €57.44 billion to €45.82 billion, representing a significant downward trend. Over the past decade, fluctuations were observed with a peak in 2014 at €61.57 billion. The most substantial drops occurred in 2016, 2020, and 2017. Year-on-year decline has continued where, in 2023, there was a 1.6% decrease compared to 2022. The 5-year compound annual growth rate (CAGR) from 2018 to 2023 is -1.75%, indicating a consistent annual decrease. Looking ahead, the forecast for the next five years suggests a further decline with a forecasted 5-year CAGR of -1.31% by 2028.
Future trends to watch for include the impact of digital transformation on financial services, regulatory changes within the EU, and potential economic recovery post-pandemic which could influence market stability and growth. Additionally, how Italy adapts to shifts in global financial markets and integrates emerging technologies in FinTech could significantly alter these projections.
