In 2023, Italy led the European landscape in high growth enterprises in financial services, excluding insurance and pension funding, holding a substantial share of 59.36%. The Czech Republic and Hungary followed at 13.79% and 8.88%, respectively. While Romania demonstrated the most significant year-on-year growth at 16.59%, Italy showed modest growth with 2.0%. Other notable year-on-year changes included an 8.08% increase in the Czech Republic and an 8.1% increase in Portugal, while Iceland witnessed a dramatic decrease of 19.73%.
Future trends to watch:
- Potential growth opportunities in emerging markets like Romania, given its recent robust growth.
- Innovation in financial services technology could further revolutionize enterprise growth across Europe.
- Continuous monitoring of regulatory changes within the EU, which may impact high growth enterprises differently by country.
Top countries in Number of High Growth Enterprises in Financial Service Activities (Except Insurance and Pension Funding) Share by Country (Units (Enterprises))
| # | 9 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Italy | 59.36 | 2023 | -2.31% | +2% | View data |
| 2 | 2 Czech Republic | 13.79 | 2023 | +3.51% | +8.08% | View data |
| 3 | 3 Hungary | 8.88 | 2023 | 0% | -6.08% | View data |
| 4 | 4 Portugal | 7.24 | 2023 | +6.9% | +8.1% | View data |
| 5 | 5 Romania | 6.54 | 2023 | +27.27% | +16.59% | View data |
| 6 | 6 Lithuania | 4.44 | 2023 | +18.75% | +6.3% | View data |
| 7 | 7 Latvia | 1.87 | 2023 | 0% | -6.17% | View data |
| 8 | 8 Slovakia | 1.87 | 2023 | 0% | -2.33% | View data |
| 9 | 9 Iceland | 0.23 | 2023 | -50% | -19.73% | View data |
