The wages and salaries for private security services in Belgium have shown a generally positive trend from 2013 to 2023, rising from 452.9 million Euros in 2013 to 673.6 million Euros in 2023. This represents significant growth, particularly noticeable in years like 2016 and 2019 with high year-on-year increases of 16.66% and 8.52%, respectively. Despite minor declines in 2020, the overall CAGR over the last 5 years stands at 3.3%. The forecast from 2024 suggests a continued but moderating growth trend, with the forecasted 5-year CAGR at 2.08% and an overall projected increase of 10.84% by 2028.
Future trends to watch for include:
- Technological advancements in security services potentially impacting wage structures.
- Regulatory changes within the private security sector.
- Economic factors influencing the demand for private security services.
