Forecast: Value Added of Financial Services in the UK

The value added of financial services in the UK has shown fluctuations over the past decade, peaking in 2023 at 181.34 billion pounds sterling. While there was a significant dip in 2015 (-3.91%), the sector generally experienced consistent growth, especially notable in 2016 (10.97%). The last two years saw modest increases (2.18% in 2022 and 2.09% in 2023), and the five-year CAGR stood at 1.85%. Forecasts indicate continued growth with the sector expected to reach 198.84 billion by 2028, reflecting a 1.45% CAGR and a total growth rate of 7.49% over the forecasted period.

Future trends to watch for include:

• The impact of digital transformation and fintech innovations
• Regulatory changes post-Brexit
• The influence of global economic conditions and potential recessions