Between 2013 and 2023, the number of self-employed people in Austria’s advertising and market research sector demonstrated a fluctuating trend. Initial declines were observed from 2013 to 2018, followed by a slight uptick and stabilization. The self-employment rate hit a nadir in 2018 but experienced positive year-on-year growth from 2019 onwards. Particularly notable were the year-on-year increases of 7.78% in 2021 and 2.93% in 2022. By 2023, the value stood at 14.43 thousand units, with a marginal year-on-year increase of 0.14%. The compound annual growth rate (CAGR) over the past five years was 2.51%. Forecasts for 2024 to 2028 predict a steady albeit slow growth, with a projected CAGR of 0.07% and an overall growth rate of 0.35% across five years, culminating in a slight increase to 14.5 thousand units by 2028.
Future Trends to Watch For:
- Digital Transformation: The shift toward digital marketing and innovative technologies in advertising.
- Economic Conditions: The impact of the broader economic environment on self-employment viability.
- Policy Changes: Government regulations and policies affecting freelance and self-employed sector dynamics.
- Industry Competition: Increasing competition and its effects on market entry and sustainability for self-employed professionals.
- Skills Evolution: Demand for continuous upskilling in emerging marketing and advertising methodologies.
