In 2023, Germany led the European output of legal, accounting, head offices, and management consultancy activities, closely followed by France. Notably, Luxembourg showed the highest year-on-year growth at 13.98%, suggesting rapid expansion in its consultancy activity. Estonia and Lithuania also demonstrated strong growth, with Estonia growing by 5.81% and Lithuania by 5.19% in 2023. Conversely, Greece exhibited a slight decline. The Compound Annual Growth Rate (CAGR) over the past five years supports these trends, with smaller countries like Estonia and Lithuania growing, whereas Greece's output declined.
Future trends worth watching include possible shifts in leadership from major economies like Germany and France to smaller, rapidly growing markets such as Luxembourg, Estonia, and Lithuania. Additionally, the technological and regulatory environment across Europe could impact growth rates significantly, and countries investing in digital transformation may see increased outputs over time.
Top countries in Output of Legal, Accounting, Head Offices, Management Consultancy Activities Share by Country (Million Euros)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 32.76 | 2023 | +3.58% | +3.4% | View data |
| 2 | 2 France | 32.51 | 2023 | +2.9% | +2.79% | View data |
| 3 | 3 Netherlands | 13.38 | 2023 | +2.4% | +2.93% | View data |
| 4 | 4 Belgium | 10.67 | 2023 | +3.44% | +3.42% | View data |
| 5 | 5 Luxembourg | 4.65 | 2023 | +9.3% | +13.98% | View data |
| 6 | 6 Austria | 3.14 | 2023 | +2.93% | +3.37% | View data |
| 7 | 7 Portugal | 1.44 | 2023 | +2.84% | +4.54% | View data |
| 8 | 8 Greece | 0.67 | 2023 | -1.11% | -0.048% | View data |
| 9 | 9 Cyprus | 0.34 | 2023 | +3.06% | +2.7% | View data |
| 10 | 10 Lithuania | 0.26 | 2023 | +4.93% | +5.19% | View data |
