Analyzing the wages and salaries for railway locomotives and rolling stock in Spain from 2013 to 2023, it becomes evident that the values have demonstrated substantial variability. In 2023, wages and salaries stood at 554.4 million Euros, reflecting a year-on-year increment of 1.48%. The Composite Annual Growth Rate (CAGR) over the last five years (2018-2023) was 0.50%, indicating moderate growth. The series exhibited noticeable fluctuations with periods of contraction, particularly between 2015 and 2016, and recovery phases with notable increments, especially in 2017 and 2018.
Looking ahead from 2024 to 2028, wages and salaries are projected to continue growing, albeit at a slower pace. The forecasted CAGR over the next five years is 1.09%, projecting a cautious but steady growth pattern, resulting in a forecasted rise of 5.55% by 2028. This sustained growth, though moderate, suggests a resilient sector with steady economic contributions despite global uncertainties.
Future trends to watch for include the impact of technological advancements in railway infrastructure, potential economic reforms, and inflationary pressures. Adapting to innovations and government policies will potentially influence labor costs and salary dynamics in this industry.