The Services to Buildings and Landscape Activities sector in Chile has shown a steady upward trend over the past decade, with production increasing from 226.11 billion Chilean Pesos in 2013 to 1098.8 billion Chilean Pesos in 2023. The year-on-year percentage variations indicate significant improvements, especially notable with a 158.86% increase in 2014 and a 31.71% increase in 2016. However, growth rates moderated in the subsequent years with variations ranging from -0.34% in 2018 to 10.18% in 2021. The compound annual growth rate (CAGR) over the last five years up to 2023 stands at approximately 5.02%.
Forecasts for 2024 and beyond suggest continued growth, with production expected to reach 1325.1 billion Chilean Pesos by 2028. This implies an average annual growth rate of 2.94% and an overall growth rate of 15.59% over the five-year forecast period.
Future trends to watch for include the impact of technological advancements such as automation and sustainable practices, which could drive efficiency and potentially influence production growth rates. Additionally, evolving regulatory standards and environmental policies may also play a crucial role in shaping the industry's future landscape.
