The employment in the legal services sector in Austria has shown a steady upward trend from 2013 through 2023, with a value of 29.62 thousand employees in 2023. Over the last two years, the year-on-year growth was 1.65% in 2022 and 1.61% in 2023. The Compound Annual Growth Rate (CAGR) over the last five years stands at 1.57%, indicating steady growth in employment.
Looking forward, the forecasted data suggests a continuation of this trend, with the number of employees projected to reach 31.89 thousand by 2028. The forecasted CAGR from 2024 to 2028 is 1.17%, with a forecasted overall growth rate of 6.01% over these five years.
Future trends to watch for include the impact of increasing automation and digitalization in legal services, changes in demand for legal professionals due to evolving regulatory landscapes, and the potential influence of economic conditions on the sector’s growth.
