The European Output of Financial Services in 2024 highlights Luxembourg as a leader with 115.14 billion euros, followed by Spain with 83.65 billion euros. Austria and Portugal continue at moderate levels, each contributing under 30 billion euros. Emerging from a lower base, Cyprus and Estonia show significant growth potential with the highest year-on-year variations in 2023, at 15.33% and 5.93% respectively. Finland and Slovenia also recorded positive trends, while Croatia and Greece exhibited negative growth.
Future trends to watch include the impact of digital banking, regulatory changes, and economic stability on financial services output. Key growth opportunities may lie in technological advancements and increased automation, alongside shifts in consumer banking preferences and cross-border service integration.
Top countries in Output of Financial Services by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Luxembourg | 115,140 | 2023 | +2.62% | +3.53% | View data |
| 2 | 2 Spain | 83,650 | 2023 | +0.87% | +1.64% | View data |
| 3 | 3 Austria | 29,790 | 2023 | +1.32% | +1.56% | View data |
| 4 | 4 Portugal | 16,410 | 2023 | +1.3% | +1.7% | View data |
| 5 | 5 Finland | 16,020 | 2023 | +3.57% | +3.6% | View data |
| 6 | 6 Cyprus | 10,920 | 2023 | +12.64% | +15.33% | View data |
| 7 | 7 Greece | 10,820 | 2023 | -1.33% | -1.29% | View data |
| 8 | 8 Slovakia | 4,990 | 2023 | +0.72% | +1.83% | View data |
| 9 | 9 Croatia | 3,610 | 2023 | -0.36% | -0.95% | View data |
| 10 | 10 Slovenia | 3,150 | 2023 | +0.96% | +4.26% | View data |
