The 2023 data shows Hungary leading with a substantial increase in high-growth enterprises within cultural and recreational goods retail, achieving a 22.87% year-on-year growth. The Czech Republic follows with a modest 4.32% increase. Italy, Norway, and Romania exhibit nominal growths of 0.51%, 7.21%, and 1.3% respectively, while Portugal, Lithuania, and Slovakia experience declines, with Iceland showing a notable rise of 31.95%. Slovakia depicts the most significant downturn at -6.17%.
Trends to watch for in 2024 include potential market expansions in Hungary and Iceland's continued growth trajectory. The countries experiencing declines might focus on stabilizing and reviving this sector. Emphasis on cultural digitalization and experiential retail may drive future growth across these markets.
Top countries in Number of High Growth Enterprises in Cultural and Recreational Goods Retail in Specialised Stores by Country
| # | 9 Countries | Units (Enterprises) | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Hungary | 70 | 2023 | +22.81% | +22.87% | View data |
| 2 | 2 Czech Republic | 42 | 2023 | +7.69% | +4.32% | View data |
| 3 | 3 Italy | 40 | 2023 | +14.29% | +0.51% | View data |
| 4 | 4 Norway | 17 | 2023 | +13.33% | +7.21% | View data |
| 5 | 5 Romania | 16 | 2023 | +6.67% | +1.3% | View data |
| 6 | 6 Portugal | 16 | 2023 | 0% | -4.84% | View data |
| 7 | 7 Lithuania | 12 | 2023 | +9.09% | -1.59% | View data |
| 8 | 8 Slovakia | 8 | 2023 | -11.11% | -6.17% | View data |
| 9 | 9 Iceland | 4 | 2023 | 0% | +31.95% | View data |
