Forecast: Number of ATM Cash Withdrawals in Belgium

The data on ATM cash withdrawals in Belgium from 2013 to 2023 shows a declining trend with fluctuations. In 2023, the number of ATM cash withdrawals stood at 256.64 million units, marking a -2.04% year-on-year decrease from 2022. Despite occasional upticks, the general trend over the last decade has been downward. The Compound Annual Growth Rate (CAGR) over the last five years was -1.26%, reflecting the broader decline in ATM usage.

Future trends anticipate a continued decrease in ATM cash withdrawals, with a forecasted CAGR of -1.83% over the next five years, resulting in an estimated figure of 229.49 million units by 2028. This continued decline can be attributed to the increasing adoption of digital payment methods and a shift towards a cashless society.

Future trends to watch for:

• Technology advancements in digital payments, such as mobile wallets and contactless cards.
• Increased merchant acceptance of digital payments and fintech innovations.
• Financial policies and incentives promoting cashless transactions.
• Societal shift in consumer behavior favoring convenience and security of digital transactions over cash.