Germany leads labor costs in European business services with 30.32 million Euros, followed by France at 24.33 million Euros and Italy at 11.68 million Euros. Spain and the Netherlands trail with 9.85 and 7.55 million Euros, respectively. Smaller economies like Luxembourg, Lithuania, and Slovenia have notably lower costs.
Year-on-year variations from 2023 indicate moderate increases across most countries, with Germany at 2.58%, France at 1.68%, and Ireland showing the highest increase at 3.89%. Over the last five years, Lithuania, Latvia, and Estonia have displayed strong average annual growth rates, signaling a catch-up trend.
Future trends to watch include continued growth in labor costs in smaller economies and potential impacts from economic policies aimed at balancing competitiveness and labor market reforms across Europe. Moreover, digital transformation and automation may influence labor costs differently across countries.
Top countries in Labour Costs in Business Services Share by Country (Million Euros)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 30.32 | 2023 | +2.24% | +2.58% | View data |
| 2 | 2 France | 24.33 | 2023 | +1.73% | +1.68% | View data |
| 3 | 3 Italy | 11.68 | 2023 | +1.77% | +1.99% | View data |
| 4 | 4 Spain | 9.85 | 2023 | +1.65% | +1.57% | View data |
| 5 | 5 Netherlands | 7.55 | 2023 | +1.72% | +1.61% | View data |
| 6 | 6 Belgium | 4.03 | 2023 | +1.86% | +2.23% | View data |
| 7 | 7 Austria | 3.38 | 2023 | +2.1% | +2.06% | View data |
| 8 | 8 Ireland | 2.15 | 2023 | +2.96% | +3.89% | View data |
| 9 | 9 Finland | 1.8 | 2023 | +1.83% | +1.8% | View data |
| 10 | 10 Portugal | 1.64 | 2023 | +1.88% | +1.66% | View data |
