The Value Added of Financial Services in France exhibited a fluctuating trend from 2013 to 2023. The period began with substantial growth rates, with values peaking at 86.92 billion Euros in 2014, followed by a modest growth in subsequent years. However, 2017 saw a notable decline of 7.74%. Despite this volatility, the sector managed to recover, demonstrating resilience with a CAGR of 1.6% over the five years leading up to 2022. As of 2023, the Value Added stood at 86.31 billion Euros, with a modest year-on-year growth rate of 0.41%. The projected CAGR over the next five years is 0.31%, indicating steady but slow growth.
Key future trends to watch for include:
- Technological advancements in financial services such as blockchain and AI which may drive efficiency and innovation.
- Regulatory changes impacting the financial sector, particularly around sustainability and governance.
- Possible economic instabilities or shifts in the European Union which may pose risks or opportunities.
- The increasing role of fintech companies which could disrupt traditional banking and financial services.