The number of persons employed in business services in Belgium has shown a consistent increase from 2013 to 2023, standing at 2.36 million units in 2023. The data indicates a stable year-on-year growth, peaking at 1.88% in 2015 and tapering to 0.95% in 2023. Over the last five years, the compound annual growth rate (CAGR) was 1.08%, demonstrating steady but decelerating growth.
For future trends, analysts forecast a sustained growth with the number of employed persons reaching 2.47 million by 2028. The projected five-year CAGR of 0.69% suggests a slower growth rate compared to the previous period, highlighting potential market saturation or economic shifts. The expected five-year growth rate is 3.49%, indicating a continual but modest expansion.
Future trends to watch for include:
- The impact of digital transformation and automation within business services.
- Potential effects of economic policies and labor market reforms in Belgium.
- Shifts in demand for specific business services driven by technological advancements.
- Impact of geopolitical developments on the business services sector.
