Analyzing the number of employees in the Freight Transport by Road sector in Belgium, there has been a fluctuating trend since 2014. Employee numbers peaked at 54.98 thousand in 2019, which saw a year-on-year growth of 3.35%. Subsequently, there has been a gradual decline from 2020 onwards, reaching 54.04 thousand in 2023. The CAGR over the last five years (2019-2023) has been relatively stable at 0.31%, indicating a slight recovery despite small annual declines around 0.21% to 0.22% in recent years.
Looking forward, the forecast data from 2024 to 2028 suggests a continuing slow decline in the number of employees, with the forecasted CAGR for the next five years around -0.17%. By 2028, the number of employees is expected to drop to approximately 53.48 thousand. The forecasted 5-year growth rate is -0.83%, indicating a steady, albeit minor, contraction in the workforce.
Future Trends to Watch for:
- Impact of automation and technological advancements on workforce needs.
- Global economic conditions and their influence on the freight transport sector.
- Potential regulatory changes affecting the road transport industry.
- Challenges and opportunities posed by environmental sustainability initiatives.