In 2023, the number of hours worked in the Pleasure and Sporting Boats Building industry in Austria was documented as 462.85 thousand hours. From 2024 onwards, we observe a consistent upward trajectory with forecasted increases in the hours worked for the coming years. Specifically, by 2028, the forecast indicates a rise to 489.37 thousand hours, showing a clear trend of growth.
Year-on-year percentage changes reflect a steady increase:
- 2023 to 2024: 1.14%
- 2024 to 2025: 1.15%
- 2025 to 2026: 1.12%
- 2026 to 2027: 1.10%
- 2027 to 2028: 1.08%
The compound annual growth rate (CAGR) over the next five years is roughly 1.11%, indicating moderate yet consistent growth. Overall, the data shows a promising upward trend.
Future trends to watch for include potential impacts of economic factors such as inflation, changes in consumer preferences towards luxury and recreational spending, and advancements in boat-building technologies that could either enhance efficiency or demand more skilled labor, thereby affecting hours worked in this industry.
