Iceland leads European countries in net social protection benefits as a percentage of GDP, boasting a substantial year-on-year increase. France and Spain follow, showing more modest growths. Eastern European countries, such as Lithuania and Poland, have exhibited notable increases, while Ireland, Hungary, and Serbia have seen slower or negative changes. In 2023, Iceland's growth was significantly higher at 10.75%, with other countries displaying moderate year-on-year changes. Over the last five years, the compound annual growth rate varies, with countries such as Spain and Poland showing strong upward trends.
Future trends to watch include the impact of demographic shifts and economic factors on social protection spending, as well as policy changes in response to an aging population across Europe. Additionally, the integration of sustainable funding models will be crucial for maintaining these benefits amid economic challenges.
Top countries in Social Protection Benefits Net Social Protection by Country
| # | 10 Countries | Percent of GDP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Iceland | 34.56 | 2023 | +9.78% | +10.75% | View data |
| 2 | 2 France | 31.46 | 2023 | +0.54% | +1.3% | View data |
| 3 | 3 Spain | 29.46 | 2023 | +2.19% | +6.23% | View data |
| 4 | 4 Austria | 27.95 | 2023 | +0.79% | +1.78% | View data |
| 5 | 5 Finland | 27.59 | 2023 | +0.18% | +0.9% | View data |
| 6 | 6 Germany | 27.21 | 2023 | +0.59% | +1.12% | View data |
| 7 | 7 Norway | 26.93 | 2023 | +1.55% | +2.68% | View data |
| 8 | 8 Denmark | 26.81 | 2023 | +0.11% | +0.65% | View data |
| 9 | 9 Italy | 26.81 | 2023 | +1.02% | +2.09% | View data |
| 10 | 10 Belgium | 26.79 | 2023 | +0.075% | +0.99% | View data |
