Between 2013 and 2023, the employment in the Toys and Games sector in Belgium exhibited notable fluctuations. From a peak in 2013, employment numbers dropped significantly in 2014 but saw recovery phases, particularly in 2017 and 2020. The year 2020 marked the highest number of employees, likely fueled by increased demand for games and toys during the pandemic. Most recently, 2023 posted a modest increase to 751 employees, showing a 0.94% year-on-year growth. The Compound Annual Growth Rate (CAGR) over the last five years was 2.04%, indicating a modest but steady recovery trend.
Looking forward, employment is forecasted to gradually increase, reaching 784 employees by 2028. The forecasted annual growth rate (CAGR) is expected to be 0.68% over the next five years, which might reflect a maturing market with a slower growth pace. Key factors to watch include technological advancements in toys and games, shifts in consumer preferences, and potential economic headwinds that could impact consumer spending.
