In Belgium, the hours worked in the footwear industry are projected to decline significantly over the next five years. In 2023, the actual hours worked stood considerably higher compared to the forecasted values for the forthcoming years. Specifically, forecasted figures show a downward trend from 87.94 thousand hours in 2024 to a mere 26.16 thousand hours by 2028. This represents a sharp year-on-year decrease, with noticeable drops at each interval: approximately 17.91% from 2024 to 2025, 21.49% from 2025 to 2026, 27.11% from 2026 to 2027, and 36.78% from 2027 to 2028. The compound annual growth rate (CAGR) indicates an average annual decline of around 25.34% over the five years.
Future trends to watch for include potential shifts towards automation and technological advancements which may further reduce manual labor hours. Additionally, fluctuations in consumer demand, changes in trade policies, and the economic climate could significantly impact the footwear sector's labor dynamics over the coming years.
