Between 2013 and 2023, wages and salaries in business services in Germany have consistently increased year-on-year, rising from 460.31 billion euros to 669.96 billion euros. Over this period, the annual growth rate varied, with significant increases up to 2019, a slower pace during 2020 due to exceptional circumstances, and a steady but moderate rise from 2021 to 2023. Notably, the compound annual growth rate (CAGR) gradually decreased from 4.52% (2015) to 2.71% (2023).
From 2024 onwards, we anticipate continued growth in wages and salaries, albeit at a slower pace, with a forecasted five-year CAGR of 1.6% and overall growth expected to reach 741.46 billion euros by 2028. Future trends to watch for include:
- Potential policy changes impacting labor markets and wage structures.
- Technological advancements and their influence on workforce productivity and compensation.
- Economic factors such as inflation and employment rates influencing disposable income.
- Structural changes in the business services sector driven by global economic trends and digital transformation.
