From 2013 to 2023, the total hours worked in Business Services in Germany showed a consistent upward trend with a Compound Annual Growth Rate (CAGR) of approximately 0.56%. In 2023, the total hours worked reached 27.28 billion hours. Over the last two years (2022 and 2023), the year-on-year growth rates were 0.59% and 0.58% respectively.
The forecast for 2024 onwards indicates a continuous increase, with a projected 27.43 billion hours in 2024 moving up to 28.01 billion hours in 2028, implying a 5-year forecast CAGR of 0.42% and a total growth rate of 2.11% over these years.
Future trends to watch for include potential impacts of technological advancements, changing labor market dynamics, remote working policies, and economic policies affecting the business services sector. These factors could significantly influence the volume of hours worked in this sector.
