In 2024, Luxembourg continues to lead the European Activities Auxiliary to Financial Services and Insurance Activities output, though it experienced a slight decline of 0.78%. Remarkably, Cyprus and Lithuania saw significant growth, with year-on-year increases of 13.02% and 27.23%, respectively. Both countries highlight a fascinating upward trend despite their smaller market sizes. France, Malta, and Belgium followed with moderate gains of around 4-5%. Other notable performers include Spain, Norway, Czech Republic, and Germany, each growing by 3.71%.
Despite its historical strength, Ireland faced a notable decline of 3.29%, while Finland and Croatia also saw minor contractions. No year-on-year change was observed in several countries, including Denmark, Austria, Poland, Iceland, Estonia, Slovakia, and Slovenia. Countries like Greece, Bulgaria, and Hungary displayed consistent moderate growth at 5.92%. Sweden showed solid promise with an 8.45% increase.
Looking ahead, expect continued robust growth in Cyprus, Lithuania, and Sweden, driven by favorable regulatory environments and investments in financial technologies. Keeping an eye on market fluctuations in Finland and Croatia will be crucial. Trends toward digitalization and fintech adoption are likely key drivers shaping the future landscape of this sector across Europe.
Top countries in Activities Auxiliary to Financial Services and Insurance Activities Output by Country
| # | 10 Countries | Percent of Total | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Luxembourg | 15 | 2023 | +0.67% | -0.78% | View data |
| 2 | 2 Cyprus | 5.9 | 2023 | +3.51% | +13.02% | View data |
| 3 | 3 Malta | 1.9 | 2023 | 0% | +4.84% | View data |
| 4 | 4 France | 1.4 | 2023 | +7.69% | +4.94% | View data |
| 5 | 5 Belgium | 1.3 | 2023 | 0% | +1.61% | View data |
| 6 | 6 Ireland | 1.1 | 2023 | 0% | -3.29% | View data |
| 7 | 7 Lithuania | 1 | 2023 | +11.11% | +27.23% | View data |
| 8 | 8 Italy | 0.9 | 2023 | 0% | +2.38% | View data |
| 9 | 9 Netherlands | 0.7 | 2023 | +16.67% | +3.13% | View data |
| 10 | 10 Germany | 0.7 | 2023 | 0% | +3.13% | View data |
