The actual turnover for legal services in Spain in 2023 was 2.76 billion euros. Over the past decade, the turnover exhibited a steady increase from 2.02 billion euros in 2014 to 2.76 billion euros in 2023. The year-on-year variations show a gradual slowdown in growth: from 7.68% in 2016 to just 1.04% in 2023. The compound annual growth rate (CAGR) followed a similar trend, with a notable drop from 5.56% in 2018 to 1.44% in 2023.
Forecasts predict that the turnover will continue to rise slightly, reaching 2.88 billion euros by 2028. The forecasted 5-year CAGR stands at 0.65%, indicating moderate growth. Key future trends to watch include the impact of digital transformation on legal services, the shift towards more specialized legal services, and potential regulatory changes that could influence market dynamics.
