Italy leads the European market for wages and salaries in the luggage, handbags, saddlery, and harness sector with 42.35 million euros, followed by France at 33.36 million euros. Spain and the United Kingdom are significantly smaller markets, with values of 5.28 and 4.56 million euros, respectively. The strongest year-on-year growth in 2023 occurred in Bosnia and Herzegovina at 12.41%, while Germany experienced a contraction of 4.99%. Some Eastern European countries like Romania and Denmark also showed strong growth rates, highlighting regional shifts in industry focus.
Future trends to watch include the potential for continued investment and wage growth in Eastern Europe as these countries develop competitive manufacturing capabilities. The Western European markets, namely Italy and France, will maintain dominance but may face pressure to innovate and improve efficiency. Additionally, the increasing focus on sustainable and ethically produced products could reshape employment trends and wage structures across the continent.
Top countries in Luggage, Handbags, Saddlery, Harness Wages and Salaries Share by Country (Million Euros)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Italy | 42.35 | 2023 | +9.72% | +5.14% | View data |
| 2 | 2 France | 33.36 | 2023 | +4.37% | +5.73% | View data |
| 3 | 3 Spain | 5.28 | 2023 | +6.61% | +4.96% | View data |
| 4 | 4 United Kingdom | 4.56 | 2023 | +3.76% | +2.69% | View data |
| 5 | 5 Romania | 3.16 | 2023 | +14.61% | +8.21% | View data |
| 6 | 6 Germany | 2.47 | 2023 | -1.98% | -4.99% | View data |
| 7 | 7 Hungary | 1.97 | 2023 | +6.96% | +0.52% | View data |
| 8 | 8 Poland | 1.28 | 2023 | +1.99% | +1.96% | View data |
| 9 | 9 Portugal | 0.97 | 2023 | +1.97% | +5.32% | View data |
| 10 | 10 Slovakia | 0.56 | 2023 | +7.23% | 0% | View data |
