The European Consumer Services Nominal Expenditure, expressed as a percentage of GDP, reveals Greece, United Kingdom, and Cyprus as leaders in 2023. Year-over-year declines spanned the majority of countries, particularly Malta, Montenegro, and Denmark. Notably, Macedonia and Slovakia experienced positive growth, illustrating underlying regional economic resilience. Over a five-year period, compound annual growth rates (CAGR) indicate stability despite recent downtrends.
Future trends to watch include potential economic stabilization across Europe as countries adjust to global economic shifts. Emphasis on digital transformation in consumer services could spur spend rate changes. Monitoring the regional impact of policy shifts, particularly in EU countries, is essential for predicting consumer expenditure dynamics. Additionally, differential growth in mature versus developing markets offers a compelling narrative for strategic planning.
Top countries in Consumer Services Nominal Expenditure by Country
| # | 10 Countries | Percent of GDP | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Greece | 41.6 | 2023 | 0% | -2.16% | View data |
| 2 | 2 United Kingdom | 41.1 | 2023 | +0.24% | -0.57% | View data |
| 3 | 3 Cyprus | 39.2 | 2023 | -0.51% | -1.37% | View data |
| 4 | 4 Portugal | 38.1 | 2023 | +0.26% | -1.02% | View data |
| 5 | 5 Spain | 37.1 | 2023 | -1.85% | -1.49% | View data |
| 6 | 6 Italy | 36 | 2023 | +0.28% | -0.87% | View data |
| 7 | 7 Croatia | 35.5 | 2023 | -0.56% | -0.55% | View data |
| 8 | 8 Iceland | 34.9 | 2023 | +0.58% | -0.89% | View data |
| 9 | 9 France | 34.5 | 2023 | +0.29% | -0.17% | View data |
| 10 | 10 Montenegro | 33.2 | 2023 | +2.47% | -2.2% | View data |
