The forecasted household expenditure on insurance in Spain shows a consistent upward trend from 2024 to 2028, starting at 13.96 billion Euros in 2024 and increasing to 15.07 billion Euros by 2028. In comparison to 2023, the expenditure was recorded at 13.69 billion Euros. Year-on-year percentage variations illustrate a steady growth: a rise of 2.64% from 2023 to 2024, 2.01% from 2024 to 2025, 1.98% from 2025 to 2026, 1.86% from 2026 to 2027, and 1.89% from 2027 to 2028. The forecasted Compound Annual Growth Rate (CAGR) from 2024 to 2028 stands at approximately 1.88%.
Looking ahead, the increasing digitalization of insurance services, the rise in demand for customized insurance products, and the impact of regulatory changes will be key trends to watch in the Spanish insurance market.
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