The Financial Services Gross Value Added (GVA) in Belgium has shown a mixed but generally positive trend since 2013. In 2023, the GVA stood at 28.54 billion Euros. Following a decline in 2020, the sector rebounded with a year-on-year growth of 4.28% in 2021 and continued to increase by 2.31% in 2022 and 2.2% in 2023. The Compound Annual Growth Rate (CAGR) over the past five years up to 2023 stands at 1.19%.
Forecasts for the future are optimistic, predicting continuous growth with a 5-year CAGR of 1.58% and an overall growth rate of 8.14% from 2024 to 2028. By 2028, the sector is expected to reach 31.52 billion Euros.
Future trends to watch for:
- Technological advancements and digitization in financial services.
- Regulatory changes impacting the financial services landscape.
- Economic factors and their influence on financial stability and growth.
- Trends in consumer behavior and expectations within the financial sector.
- International trade agreements and their impact on the Belgian financial market.
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