Forecast: Employment in Financial Services Sector in Belgium

An analysis of the employment in the financial services sector in Belgium reveals a consistent decline from 2013 to 2023, with the value decreasing from 193.0 million hours to 163.85 million hours. From 2024 onwards, the forecasted data suggests a continuation of this downward trend, with employment hours expected to reach 152.16 million by 2028. The year-on-year variation has fluctuated, with recent years showing a decline of around 1.43% in 2023. The last five years have experienced an average annual decline (CAGR) of -1.64%. The forecast for the next five years predicts an average annual decline of -1.18%.

Future trends to watch for include:

• Automation and digital transformation in financial services, potentially reducing the need for human labor.
• Regulatory changes and their impact on employment within the sector.
• Economic shifts and their influence on employment dynamics in financial services.