The turnover for Accounting, Bookkeeping, Auditing Services, and Tax Consultancy in Austria has shown a consistent upward trend from 2013 to 2023, increasing from €2.93 billion to €4.45 billion. The highest year-on-year growth occurred in 2018, with an increase of 10.93%, followed by more stable but positive growth rates in the subsequent years with a CAGR of 3.12% during the last five years leading up to 2023.
For the upcoming period from 2024 to 2028, the forecasted figures indicate a continuing rise in turnover, reaching €5.13 billion in 2028. The forecasted CAGR for the next five years is 2.26%, reflecting a stable but slightly slower growth rate compared to the past years, with an expected cumulative growth rate of 11.81% over this period.
**Future Trends to Watch For:**
- Digital Transformation: Increasing use of AI and automation in financial services.
- Regulatory Changes: Impact of new financial regulations and standards.
- Client Expectations: Rising demand for personalized and real-time financial advisory services.
- Globalization: Cross-border tax consultancy services due to increased globalization of businesses.