The employment in the footwear sector in Belgium experienced significant fluctuations from 2014 to 2023. Starting at 177 units in 2014, the numbers dropped sharply by 27.12% in 2015 to 129 units. Employment continued to decline with notable year-on-year variations, such as a drop of 34.16% in 2019 and 8.99% in 2023, standing at 81 units. The 5-year CAGR from 2019 to 2023 was -12.84%, indicating a consistent downward trend.
Forecasts from 2024 to 2028 suggest a continued decline with a forecasted 5-year CAGR of -9.63%, with employment expected to decrease by 39.73% by 2028, reaching 44 units. This trend highlights ongoing challenges in the sector.
Future trends to watch for include the impact of automation, shifts in consumer demand, and potential changes in trade policies. Companies in the sector must adapt to these trends to mitigate further employment declines.
