From 2013 to 2023, the financial service activities output in Italy has seen a recurrent decline, except for a temporary rise in 2014. In 2023, the output stood at €69.97 billion, marking a -2.79% year-on-year variation from the previous year. The last five-year CAGR up to 2023 was -2.6%, indicating a steady annual decrease in output value.
Looking at forecasts from 2024 to 2028, there is a projected continuation of this decline. The forecasted five-year CAGR is -2.39%, suggesting that by 2028 the output will reduce further by about 11.4% to €60.24 billion.
Future trends to watch for include:
- Changes in regulatory policies affecting financial services.
- Technological advancements and their adoption in the financial sector.
- Global economic conditions impacting Italy's financial market.
- Shifts in consumer preferences towards digital financial services.
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