In 2023, wages and salaries in the floor and wall covering industry in Austria stood at 420.0 million Euros. From 2013 to 2023, the sector experienced a broad upward trend with variations in the annual growth rate. Significant year-on-year increases were observed in 2014 (4.95%), 2017 (5.4%), and 2018 (6.64%). However, there was a dip in 2020 (-1.23%), attributed to the global pandemic. Over the last five years (2019-2023), the average compound annual growth rate (CAGR) was modest at 2.08%.
Looking forward, the forthcoming years are projected to continue this upward trajectory, albeit at a slower pace. The forecasted five-year CAGR from 2024 to 2028 stands at 1.55%, with an overall growth of approximately 8% expected by 2028.
Future trends to watch for include potential impacts of economic fluctuations, changes in construction activity, and advancements in eco-friendly and sustainable materials which could influence wage and salary structures in the industry. Additionally, any shifts in labor market policies or technological advancements in the industry may also play a crucial role in shaping future wage trends.
