From 2013 to 2023, the number of employees in the footwear sector in Italy saw various fluctuations. Starting at 69.47 thousand in 2013, the sector saw a gradual decline with noticeable dips, particularly a sharp decrease of 7.19% in 2020, coinciding with the COVID-19 pandemic. Despite a slight recovery in 2021, by 2023, the workforce had dwindled to 62.53 thousand, indicating a year-on-year decline of 1.24%. Over the last five years leading up to 2023, the sector experienced a compound annual growth rate (CAGR) of -1.95%.
Looking ahead from 2024 to 2028, the number of employees is forecasted to continue its downward trend, reaching 58.72 thousand by 2028. The five-year CAGR for this period is projected at -1%, with an overall forecasted growth rate of -4.91%.
Future trends to watch for include:
- Potential further impact from global economic conditions and potential geopolitical events.
- Technological advancements and automation possibly reducing manual labor requirements.
- Shifts in consumer preferences towards sustainable and ethical production, potentially altering labor needs.