In 2023, Germany and France dominated the European watches and clocks wages and salaries share, contributing significantly to the sector with values of 46.68 million and 36.49 million euros, respectively. Germany showed a marginal increase in growth (0.47%), while France saw a substantial rise (15.38%). Italy and the UK experienced declines, with Italy at -0.38% and the UK at -6.22%. Portugal and the Czech Republic improved by 3.53% and 7.46% respectively, with Iceland leading at 8.29% growth. Meanwhile, countries like Croatia saw sharp declines at -32.24%, whereas Hungary grew markedly at 20.11%.
Looking forward, enhancements in technology and craftsmanship along with an increased focus on unique designs are likely to influence growth trends. Germany and France are set to maintain their leading positions, but emerging markets such as Hungary and Iceland could see increases if current trends persist. Watch for potential impacts from economic fluctuations and consumer preferences shifting towards smartwatches and digital innovations.
Top countries in Watches and Clocks Wages and Salaries Share by Country (Million Euros)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 46.68 | 2023 | +5.79% | +0.47% | View data |
| 2 | 2 France | 36.49 | 2023 | +21.44% | +15.38% | View data |
| 3 | 3 Italy | 2.95 | 2023 | +0.97% | -0.38% | View data |
| 4 | 4 United Kingdom | 2.1 | 2023 | -6.33% | -6.22% | View data |
| 5 | 5 Portugal | 1.96 | 2023 | +2.99% | +3.53% | View data |
| 6 | 6 Spain | 1.79 | 2023 | 0% | -0.31% | View data |
| 7 | 7 Sweden | 0.94 | 2023 | -2.94% | -3.77% | View data |
| 8 | 8 Czech Republic | 0.68 | 2023 | +9.09% | +7.46% | View data |
| 9 | 9 Belgium | 0.57 | 2023 | 0% | 0% | View data |
| 10 | 10 Austria | 0.34 | 2023 | 0% | -3.04% | View data |
