The turnover of Accounting, Bookkeeping, and Auditing Services, as well as Tax Consultancy in Portugal, stood at 1.46 billion euros in 2023. This market experienced a relatively stable growth trend from 2013 to 2019, with an increase from 1.15 billion euros in 2013 to 1.46 billion euros in 2019. However, the growth plateaued from 2020 onwards, maintaining around 1.46 billion euros through 2023 and into future forecasts up to 2028.
Year-on-year variations were notably higher in the earlier years, peaking at 6.55% in 2017, but have since stabilized with minimal changes, such as 0.16% in 2023. The Compound Annual Growth Rate (CAGR) shows a declining trend, reflected by values such as 4.39% in 2019 dropping to 1.07% in 2023.
Future trends indicate a minimal growth forecast, with a 5-year CAGR of just 0.06% and a forecasted 5-year growth rate of 0.31%. This suggests the market will likely remain stable without significant expansions.
- Future trends to watch for: - Technological advancements in accounting and tax software. - Regulatory changes impacting the industry. - Shifts in demand for advisory services over routine accounting. - Potential market consolidation through mergers and acquisitions.
