Forecast: Financial Service Activities Gross Value Added in Belgium

The financial services activities Gross Value Added (GVA) in Belgium has shown steady growth from 2013 to 2023. The GVA grew from €12.83 billion in 2013 to €20.18 billion in 2023. Over the last two years, there has been a moderate year-on-year growth of 2.36% in 2022 and 2.95% in 2023. The Compound Annual Growth Rate (CAGR) over the last five years stands at 2.54%, highlighting consistent if moderate growth.

Looking forward, the forecast suggests that the GVA will continue to rise, reaching €22.98 billion by 2028. The forecasted five-year CAGR is estimated at 2.06%, indicating a slightly lower but stable growth rate. Total forecasted growth from 2023 to 2028 is projected at 10.75%.

Future trends to watch for include:

• Potential impacts of technological advancements on financial services.
• Regulatory changes within the European Union and their effects on the Belgian market.
• Economic conditions and potential shifts in consumer behavior.