The value of payments by cards with a credit function in Italy has shown varied trends over the past years. Starting at 67.5 billion USD in 2013, it consistently rose and fell, peaking in 2021 at 99.82 billion USD followed by a slight dip to 97.26 billion USD in 2022, and then recovered to 99.4 billion USD in 2023. Over the past few years, the market saw a significant jump in 2021 with a year-on-year increase of 29.55%, contrasted by a -2.57% decrease in 2022, and a modest 2.21% increase in 2023. The Compound Annual Growth Rate (CAGR) from 2018 to 2023 was a mere 0.96%.
Looking forward, the value is projected to grow, reaching 110.89 billion USD by 2028, reflecting a forecasted 5-year CAGR of 1.67% and an overall growth of 8.61% from 2023. This indicates a stable, albeit slow, upward trend in the market.
Future trends to watch for include:
- Technological advancements in payment methods, which may further drive credit card usage.
- Regulatory changes that could impact credit markets and consumer behavior.
- Economic factors such as inflation and employment rates which influence consumer spending.